Natural Gas Dec '22 (NGZ22)
Natural Gas Futures Market News and Commentary
August Nymex natural gas (NGQ26) on Friday closed down -0.072 (-2.39%).
Nat-gas prices added to Thursday’s losses on Friday and posted a 1.5-month low.  Nat-gas prices are under pressure as US weather forecasts shifted to show cooler weather in the coming weeks, which could potentially curb demand for gas-fired electricity as consumers use less air conditioning. Nat-gas prices also fell on abundant US supplies after Thursday’s weekly EIA report showed that US nat-gas inventories were +6.6% above their five-year average as of July 3.Â
A bearish factor for nat-gas prices in the medium term is speculation that a powerful El Niño weather system will bring warmer-than-normal temperatures to the Northern Hemisphere this fall and winter, reducing nat-gas heating demand.Â
US (lower-48) dry gas production on Friday was 112.6 bcf/day (+5.2% y/y), according to BNEF. Lower-48 state gas demand on Friday was 77.7 bcf/day (+0.6% y/y), according to BNEF. Estimated LNG net flows... Read more
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