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Barchart
Rich Asplund

Nat-Gas Prices Close Higher on Forecasts for Hot U.S. Temps

United States Nymex Electricity Natural Gas BNEF EIA

October Nymex natural gas (NGV23) on Thursday closed +0.028 (+1.04%).

Nat-gas prices on Thursday climbed to a 1-1/2 week high and settled moderately higher.  Forecasts for hot U.S. temperatures next week that will boost nat-gas demand from electricity providers to run air conditioning pushed prices higher.  The Commodity Weather Group said above-average temperatures will be seen in the central U. S. next week.  Nat-gas prices fell back from their best levels Thursday after weekly EIA nat-gas inventories rose +57 bcf, above expectations of +50 bcf.

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