May Nymex natural gas (NGK23) on Thursday closed down -0.144 (-6.68%).
May nat-gas prices Thursday plummeted to a 1-1/2 month nearest-futures low after updated weather forecasts called for unusually mild U.S. weather for mid-April, reducing heating demand for nat-gas. Maxar Technologies said above-normal temperatures are expected in the eastern two-thirds of the U.S. from April 11-20. Nat-gas prices extended their losses after the EIA reported that weekly U.S. nat-gas inventories fell -23 bcf, right on expectations.
