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Rich Asplund

Nat-Gas Prices Decline on High Storage Levels and Mild Weather

United States Sep Nymex BNEF Electricity Natural Gas

Sep Nymex natural gas (NGU24) on Tuesday closed down by -0.052 (-2.66%).

Sep nat-gas prices Tuesday closed lower for the sixth consecutive session and posted a 4-month nearest-futures low.  Over the past week, nat-gas prices have been under pressure due to robust supplies and forecasts for moderate temperatures that will reduce nat-gas demand from electricity providers to run air conditioning.  US nat-gas supplies as of August 16 were +12.6% above their 5-year average.  Maxar Technologies said Tuesday that forecasts are trending cooler across the eastern half of the US for September 1-5.  

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