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Rich Asplund

Nat-Gas Prices Settle Lower on Forecasts for Warmer US Temps

United States Gas Prices Nymex Natural Gas EIA BNEF

November Nymex natural gas (NGX25) on Wednesday closed down by -0.012 (-0.40%).

Nov nat-gas prices on Wednesday extended Tuesday's losses to a new 3-week low.  Warmer-than-normal US weather forecasts, which are expected to lead to reduced heating demand for natural gas, are weighing on gas prices.  On Wednesday, forecaster Atmospheric G2 stated that temperatures across most of the US for October 20-24 will be above normal, as "there are still no signs of any noteworthy cold air intrusions and no appreciable cold air over Canada."  Also, temperatures in the interior of North America are expected to remain warmer-than-normal for October 25-29.  

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