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Barchart
Rich Asplund

Nat-Gas Prices Retreat on Expectations for US Gas Supplies to Remain Elevated

United States Nymex BNEF EIA Electricity Natural Gas

July Nymex natural gas (NGN24) on Wednesday closed down by -0.084 (-2.68%).  

July nat-gas prices Wednesday retreated on the outlook for ample US nat-gas supplies to continue despite hot weather.  As of May 31, US nat-gas inventories were up +13.5% y/y and were +25.1% above their 5-year seasonal average.  The consensus is for Thursday's weekly EIA nat-gas inventories to climb by +76 bcf, which will help keep inventories elevated.

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