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Barchart
Barchart
Rich Asplund

Cold US Temps and Strength in Crude Oil Lifts Nat-Gas Prices

United States Oil Nymex EIA Natural Gas BNEF

June Nymex natural gas (NGM26) on Monday closed up +0.087 (+3.13%).

Nat-gas prices rallied to a 4-week nearest-futures high on Monday and settled sharply higher.  Nat-gas prices have support on the outlook for below-normal US temperatures in the near term, which could potentially boost nat-gas heating demand.  Below-average temperatures are expected across much of the US Midwest through May 13, according to the Commodity Weather Group.  Monday's +4% surge in WTI crude oil prices also provided carry-over support to nat-gas prices.

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