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Rich Asplund

Nat-Gas Prices See Support as Gas Rigs Drop

Nymex United States BNEF EIA Natural Gas

Aug Nymex natural gas (NGQ23) on Friday closed +0.097 (+3.59%) but remained below Monday's 3-1/4 month high.

Nat-gas prices Friday saw support after news that the number of active U.S. gas rigs fell by -6 rigs to a new 1-1/4 year low of 124 rigs.  Nat-gas prices continue to see underlying support from hot weather across much of the country, but temperatures in Texas are expected to cool over the weekend and into next week from the recent triple-digit figures.

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