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Barchart
Rich Asplund

Nat-Gas Prices Retreat on Expectations Norwegian Gas Outage Will be Brief

United States Europe Nymex BNEF Electricity Natural Gas

July Nymex natural gas (NGN24) on Tuesday closed down sharply by -0.170 (-6.17%).  

July nat-gas prices Tuesday relinquished early gains and closed sharply lower on negative carryover from a slump in  European nat-gas prices.  European nat-gas prices retreated from Monday's 6-month high Tuesday as supply concerns eased on expectations that an outage at Norway's Nyhamna gas processing plant will be short-lived.  Nat-gas rallied sharply Monday due to worries that European demand for US gas supplies would surge after the unplanned outage at the Nyhamna gas processing plant cut gas supplies to Europe.  

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