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Rich Asplund

Nat-Gas Prices Sink on Abundant US Supplies

United States Nymex EIA Natural Gas BNEF

May Nymex natural gas (NGK26) on Friday closed down -0.091 (-3.48%).

Nat-gas prices sank to a 1.5-year low on Friday and settled sharply lower.  Growing US nat-gas stockpiles and above-normal US spring temperatures, which will reduce nat-gas heating demand even further and add to already burgeoning inventories, are weighing on prices.   EIA nat-gas inventories as of April 17 were +7.1% above their 5-year seasonal average, signaling abundant US nat-gas supplies.  

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