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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Fall to 6-month Low on Bearish EIA Report and Cooler Temps

July Nymex natural gas (NGN25) on Thursday closed sharply lower by -0.131 (-3.70%).

July nat-gas prices on Thursday extended this week's slide to a 6-month low.  Nat-gas prices fell on Thursday's weekly EIA report, which showed a +96 bcf increase in the week ended June 20, which was a larger build than expectations of +88 bcf and the 5-year average increase for the week of +79 bcf.  In addition, the Commodity Weather Group is forecasting a cool-down in the eastern half of the US for the later period of June 20-July 4 behind a cold front, which should curb nat-gas demand from electricity providers to run air conditioning.  

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