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Rich Asplund

Nat-Gas Prices Retreat as Cool US Temps Allow Gas Inventories to Build

United States Nymex Baker Hughes BNEF Electricity Natural Gas

July Nymex natural gas (NGN25) on Tuesday closed down by -0.102 (-2.81%).

July nat-gas prices on Tuesday extended Monday's sharp losses and posted a 1-week low.   Nat-gas prices were under pressure Tuesday on the outlook for cooler US temperatures to curb nat-gas demand and allow inventory levels to build.  As of May 30, nat-gas inventories were +4.7% above their 5-year seasonal average, signaling adequate nat-gas supplies.  Also, last Friday's weekly report from Baker Hughes showed active US nat-gas rigs rose to a 15-month high, signaling higher production in the near term.

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