Natural Gas Mini Mar '18 (QGH18)
Natural Gas Mini Futures Market News and Commentary
July Nymex natural gas (NGN26) on Tuesday fell -0.007 (-0.22%).
Nat-gas prices settled slightly lower on Tuesday but remained above Monday’s 1.5-week low.  Forecasts of cooler US weather, which will reduce demand for air conditioning, are weighing on nat-gas prices. Forecaster Vaisala said cooler-than-normal temperatures are forecast across the Midwest and eastern US for June 14-18.
Projections for higher US nat-gas production are also negative for prices. On Tuesday, the EIA raised its forecast for 2026 US dry nat-gas production to 111.0 bcf/day from a May estimate of 110.6 bcf/day. US nat-gas production is currently near a record high, with active US nat-gas rigs posting a 2.5-year high in late February.
US (lower-48) dry gas production on Tuesday was 110.1 bcf/day (+2.2% y/y), according to BNEF. Lower-48 state gas demand on Tuesday was 73.2 bcf/day (+5.8% y/y), according to BNEF. Estimated LNG net flows to US LNG export terminals on Tuesday were 17.9 bcf/da... Read more
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