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Rich Asplund

Nat-Gas Prices Rebound Ahead of August Contract Expiration

United States Natural Gas BNEF EIA

August Nymex natural gas (NGQ26) on Wednesday closed up +0.063 (+2.37%).

Nat-gas prices rebounded from a 3-month nearest-futures low and settled higher amid fund short covering as Wednesday was the last trading day for the August Nymex natural gas futures contract. Prices have been under pressure over the past week as weather models shifted to show a cooler Midwest and East Coast in the near term, reducing the need for air conditioning. The Commodity Weather Group said on Wednesday that forecasts call for normal to below-normal temperatures across the central and eastern US through August 7.

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