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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Climb on Smaller-Than-Expected Storage Increase

September Nymex natural gas (NGU26) on Thursday closed up +0.036 (+1.32%).

Nat-gas prices settled higher on Thursday on a smaller-than-expected storage increase. Weekly EIA nat-gas inventories rose +28 bcf in the week ended July 24, below expectations of +37 bcf. Nat-gas prices extended their gains on forecasts for warmer US weather, potentially boosting nat-gas demand from electricity providers to power an expected increase in air conditioning use. The Commodity Weather Group said on Thursday that forecasts shifted warmer, with above-normal temperatures expected in the western half of the US through August 13.

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