August Nymex natural gas (NGQ24) on Tuesday closed down by -0.043 (-1.74%).
Aug nat-gas prices Tuesday moved lower for the sixth consecutive session and posted a 7-week low. Nat-gas prices remain under pressure as US gas storage is +20.6% above the 5-year seasonal average, signaling robust supplies. Also, weather forecasts have been trending cooler in the US, which will curb nat-gas demand from electricity providers to run air-conditioning. Forecaster Atmospheric G2 said Tuesday that US weather forecasts have shifted cooler across much of the central and eastern parts of the US for July 7-11.
