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Barchart
Rich Asplund

Nat-Gas Prices Recover Mildly After the Week's Plunge

United States NatGasWeather Nymex BNEF Electricity Natural Gas NWS

July Nymex natural gas (NGN24) on Friday closed up +0.015 (+0.58%).  July nat-gas prices Friday saw a modest recovery after the sharp declines of -5.63% on Wednesday and -3.53% on Thursday.

The near-term weather outlook is mixed.  NatGasWeather said Thursday that the eastern part of the US is expected to see moderate temperatures from June 6-13, which would curb nat-gas demand from electricity providers to power air-conditioning.  Tuesday's projection from  the National Weather Service (NWS) was supportive for nat-gas prices as the NWS said that "the vast majority of the lower 48 US states could see above-average temperatures for the next three months, and for a good portion of states, a hotter-than-normal summer is the most likely scenario."

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