June Nymex natural gas (NGM23) on Wednesday closed down -0.076 (-3.35%).
Jun nat-gas prices retreated Wednesday as firefighters made progress in battling wildfires in Alberta, Canada. Also, forecasts for rain to move into western Canada should help firefighters contain the fires that are still burning. Tradition Energy said that less than 1 billion cubic feet (bcf) of Canadian gas production was still halted because of the fires. About 2.5 bcf/day of nat-gas production, about 15% of Canada's production, had been shut down by the fires. In addition, a slide in European nat-gas prices Wednesday to a 1-3/4 year low undercut U.S. nat-gas prices.
