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Rich Asplund

Forecasts for Hot US Temps Push Nat-Gas Prices Higher

United States Nymex EIA Electricity Natural Gas BNEF

June Nymex natural gas (NGM26) on Monday closed up +0.064 (+2.16%).

Nat-gas prices climbed to a 1.75-month nearest-future high on Monday and settled sharply higher. Expectations of hotter, above-normal temperatures that could boost nat-gas demand from electricity providers to power increased air-conditioning use are pushing nat-gas prices higher. The Commodity Weather Group said Monday that above-average temperatures are expected across the eastern half of the US from May 27 to June 1.

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