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Rich Asplund

Forecasts for Near-Normal US Temps Undercut Nat-Gas Prices

United States The Commodity Weather Group BNEF EIA Natural Gas

August Nymex natural gas (NGQ26) on Monday closed down -0.104 (-3.62%).

Nat-gas prices sank to a 2.5-month nearest-futures low on Monday and settled sharply lower. The outlook for cooler US weather, which diminishes the need for air conditioning, is weighing on nat-gas prices. The Commodity Weather Group said on Monday that forecasts call for normal to below-normal temperatures across the central and eastern US for August 1-5.

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