Natural Gas Dec '23 (NGZ23)
Natural Gas Futures Market News and Commentary
October Nymex natural gas (NGV26) on Friday closed down -0.026 (-0.89%).
Nat-gas prices settled lower on Friday ahead of Energy Transfer LP’s scheduled start date next week for its Hugh Brinson pipeline in Texas. The pipeline, scheduled to begin service on September 1, will be able to move about 2.2 bcf/day of gas from the Permian Basin to East Texas, potentially boosting domestic nat-gas supplies at Erath, Louisiana, where benchmark US gas futures are traded at the Henry Hub.
Losses in nat-gas prices were limited on Friday ahead of hot US weather next week, which could boost nat-gas demand from electricity providers to power increased air-conditioning use. According to the Commodity Weather Group, above-average temperatures are expected across the eastern two-thirds of the US from September 2-11.
As a positive factor for gas prices, the Edison Electric Institute reported Wednesday that US (lower-48) electricity output in the week ended August 22 rose +6.1% y/y... Read more
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