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Rich Asplund

Nat-Gas Prices Shake Off Bearish EIA Report

EIA Nymex Texas United States BNEF Electricity Natural Gas Southwest

July Nymex natural gas (NGN23) on Thursday closed up +0.011 (+0.42%) but remained below Tuesday's 1-month high.

Hot weather continues to be a bullish factor for nat-gas prices, with the scorching weather in Texas expected to last into next week and possibly extend to the Southwest. Utilities in Texas are running at full tilt to produce enough electricity to run air conditioning. However, the 11-15 day forecast is slightly cooler, particularly for the southeast and mid-Atlantic areas.

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