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Rich Asplund

Nat-Gas Prices Erase Early Gains as US Weather Forecasts Shift Cooler

United States Commodity Weather Group Nymex BNEF Electricity Natural Gas

July Nymex natural gas (NGN24) on Monday closed down by -0.012 (-0.41%).  

July nat-gas prices Monday retreated from a 2-week high and settled slightly lower.  Long liquidation in nat-gas emerged Monday after updated weather forecasts called for milder US temperatures than were initially forecast.  The Commodity Weather Group said that forecasts shifted slightly cooler for much of the central, southern, and western US from June 11-15, which will curb nat-gas demand from electricity providers to power air-conditioning usage.    

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