Natural Gas Futures Market News and Commentary
Sep WTI crude oil (CLU22) this morning is up +2.04 (+2.32%), and Sep RBOB gasoline (RBU22) is up +7.31 (+2.49%). Sep Nymex natural gas (NGU22) is down -0.193 (-2.09%).
Oil prices this morning are moderately higher. Crude is higher on positive carry-over from Wednesday's weekly EIA report that showed U.S. crude and gasoline inventories fell more than expected. The upside in energy prices was limited today by a stronger dollar as the dollar index (DXY00) rallied to a 3-week high.
Nat-gas prices this morning are moderately lower. Expectations for normal U.S. temperatures that will reduce nat-gas demand from energy providers to power air conditioning are bearish for prices. The Commodity Weather Group said today that normal temperatures are expected across most of the U.S. from Aug 23-27. Losses in nat-gas prices were limited after today's weekly EIA report showed nat-gas inventories rose only +18 bcf last week, below expectations of a +32 bcf increase.
Today's U... Read more