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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Climb on Forecasts for Warm US Temps

June Nymex natural gas (NGM26) on Friday closed up +0.066 (+2.28%).

Nat-gas prices rallied to a 6-week nearest-future high on Friday and settled sharply higher.  Expectations of above-normal temperatures that could boost nat-gas demand from electricity providers to power increased air-conditioning use are underpinning nat-gas prices.  Forecaster Vaisala said Friday that above-average temperatures are expected from the Rockies to the East for May 25-29.  Nat-gas also has carryover support from Thursday's smaller-than-expected storage increase in weekly EIA nat-gas inventories.  

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