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Rich Asplund

Nat-Gas Prices Relinquish Early Gains as US Supplies Remain Abundant

United States Sep Nymex BNEF Electricity Natural Gas

Sep Nymex natural gas (NGU24) on Tuesday closed down by -0.037 (-1.66%).

Sep nat-gas prices Tuesday gave up an early advance and posted moderate losses on the outlook for US nat-gas supplies to remain abundant, despite forecasts for hotter weather.  As of August 9, nat-gas inventories were +13.0% above their 5-year seasonal average, signaling ample nat-gas supplies.  Nat-gas prices Tuesday initially moved higher after Maxar Technologies said the Midwest and East are expected to see above-normal and much-above-normal temperatures for August 25-29, boosting nat-gas demand from electricity providers to run air conditioning.  

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