September Nymex natural gas (NGU23) on Friday closed +0.021 (+0.83%).
Nat-gas prices Friday recovered from early losses and posted moderate gains. Nat-gas moved higher Friday afternoon after the weekly report from Baker Hughes that active U.S. nat-gas rigs fell to a 1-1/2 year low, which signals a decline in future U.S. nat-gas output. Nat-gas prices Friday initially moved lower on the outlook for cooler weather in the U.S. next week, reducing nat-gas demand from electricity providers to power air conditioning. Forecaster Atmospheric G2 said below-normal temperatures are seen in the Great Lakes region, Mid-Atlantic, and Southeast from August 30-September 3.
