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Rich Asplund

Nat-Gas Erases Early Gains on the Outlook for Larger US Inventories

United States EIA Nymex BNEF Natural Gas

August Nymex natural gas (NGQ26) on Wednesday closed down -0.053 (-1.62%).

Nat-gas prices on Wednesday fell from a 1.5-week high and settled lower on the outlook for a larger-than-normal increase in weekly US domestic stockpiles, which are already above the five-year average. The consensus is that Thursday’s weekly EIA nat-gas inventories will increase by +61 bcf for the week ended July 3, above the five-year average for the week at +51 bcf.

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