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Barchart
Rich Asplund

Nat-Gas Prices Drop on Ample Supplies and Moderating U.S. Temps

United States Nymex Electricity Natural Gas BNEF

September Nymex natural gas (NGU23) on Friday closed -0.070 (-2.67%).

Nat-gas prices Friday dropped to a 2-week low and closed moderately lower.  Ample U.S. nat-gas supplies and forecasts for cooler U.S. weather that will curb nat-gas demand from electricity providers to power air conditioning weighed on prices.  U.S. nat-gas inventories as of August 11 were +10.8% above their 5-year seasonal average.  Meanwhile, the Commodity Weather Group said temperatures are expected to cool off for the East and West coasts over the next ten days but remain above average in the Midwest and Texas.  

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