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Rich Asplund

Nat-Gas Prices Rise on the Prospects of Warmer US Temps

United States Gas Prices Maxar Technologies Nymex Electricity Baker Hughes BNEF Freeport Natural Gas

May Nymex natural gas (NGK24) on Monday closed up by +0.039 (+2.23%).

May nat gas prices Monday posted moderate gains as warm weather forecasted for the eastern half of the US for early May may boost nat-gas demand from electricity providers to power increased air-conditioning usage. Maxar Technologies said Monday that the eastern half of the US will see above-normal temperatures for May 2-6. The outlook for reduced US nat-gas production also supports prices after last Friday's weekly report from Baker Hughes showed US nat-gas drilling rigs in the week ending April 19 fell to a 2-1/4 year low of 106 rigs.

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