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Barchart
Rich Asplund

Nat-Gas Prices Retreat as Weekly EIA Inventories Climb More Than Expected

EIA Nymex United States BNEF Electricity Natural Gas NWS

July Nymex natural gas (NGN24) on Thursday closed down -0.094 (-3.53%).

July nat-gas prices Thursday dropped to a 2-week low and closed moderately lower after weekly nat-gas inventories rose more than expected.  The EIA reported Thursday that nat-gas inventories for the week ended May 24 rose +84 bcf, above expectations of +78 bcf.  A mixed weather outlook also undercut nat-gas prices after NatGasWeather said 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.  

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