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Barchart
Rich Asplund

Nat-Gas Prices Recover on Concern Over Tighter Global Supplies

United States April Nymex EIA Iran Natural Gas the Strait of Hormuz BNEF the Middle East

April Nymex natural gas (NGJ26) on Wednesday closed up +0.009 (+0.31%).

Nat-gas prices recovered from a 3.5-week low on Wednesday and settled slightly higher after Iran rejected a peace plan from the US, which could keep the Strait of Hormuz closed and curtail nat-gas supplies from the Middle East.  Nat-gas prices initially moved lower on Wednesday amid forecasts for above-normal US weather, which could reduce nat-gas heating demand.  On Wednesday, the Commodity Weather Group said forecasts shifted warmer, with above-average temperatures expected across the US through April 3.  

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