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Rich Asplund

Nat-Gas Prices Recover as US Weather Forecasts Cool

United States Nymex Natural Gas BNEF EIA

May Nymex natural gas (NGK26) on Tuesday closed up +0.059 (+2.10%).

Nat-gas prices recovered from a 7.5-month nearest-futures low on Tuesday and settled sharply higher.  Short covering emerged in nat-gas futures on Tuesday due to a cold shift in US weather forecasts, potentially boosting nat-gas heating demand.  The Commodity Weather Group said Tuesday that forecasts shifted colder, though above-average temperatures are still expected across the eastern half of the US from April 12-16.

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