June Nymex natural gas (NGM23) on Monday closed down -0.185 (-7.16%).
Jun nat-gas prices Monday fell sharply amid ample U.S. supplies and a cooler U.S. weather forecast that will reduce the demand from electricity providers to power air conditioning. Nat-gas inventories in the U.S. were +17.8% above their 5-year seasonal average as of May 12. The Commodity Weather Group said normal to below-normal temperatures are seen across the southern and eastern U.S. through May 31. A drop in European nat-gas prices Monday to a 23-month low also weighed on U.S. nat-gas prices.
