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Barchart
Barchart
Rich Asplund

Nat-gas Prices Fall on Ample Storage and Cooler US Temps

July Nymex natural gas (NGN25) on Monday closed down by -0.149 (-3.94%).

July nat-gas prices on Monday tumbled to a 1-week low and settled sharply lower.   Nat-gas prices sold off Monday due to abundant US nat-gas supplies and the outlook for higher US nat-gas production.  As of May 30, nat-gas inventories were +4.7% above their 5-year seasonal average, signaling adequate nat-gas supplies.  Also, last Friday's weekly report from Baker Hughes showed active US nat-gas rigs rose to a 15-month high, signaling higher production in the near term.

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