Gasoline RBOB Futures Market News and Commentary
Jan Nymex natural gas (NGF20) on Wednesday closed down by -0.021 (-0.93%).
Jan nat-gas prices on Wednesday closed lower but remained above Monday's 3-1/2 month low. Losses were limited after Maxar on Wednesday said forecasts for cooler weather in the lower 48 U.S. states have strengthened for Dec 16-20 and weakened for warmer weather during Dec 21-25.
Another positive factor for nat-gas is the consensus for Thursday’s weekly EIA nat-gas inventories to fall by -78 bcf, a bigger decline than the 5-year average for this time of year of -68 bcf.
Jan nat-gas on Monday plunged to a 3-1/2 month low on forecasts for warm U.S. temperatures to last through December, which would reduce heating demand for nat-gas. The Commodity Weather Group said Tuesday that a colder forecast for Dec 15-19 is offset by a warmer outlook for Dec 20-24, with above-normal temperatures seen across most of the lower 48 U.S. states toward the end of the month.
High U.S. nat-gas production... Read more