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Rich Asplund

Nat-Gas Prices Sink on Forecasts for Above-Normal US Temps

United States Nymex BNEF EIA Natural Gas

February Nymex natural gas (NGG26) on Tuesday closed down -0.173 (-4.91%),

Feb nat-gas prices extended their week-long plunge on Tuesday to a new 2.25-month nearest-futures low. Forecasts for above-normal US temperatures that will curb heating demand and allow for nat-gas inventories to rebuild are hammering prices. Forecaster Xweather said Tuesday that above-normal temperatures will grip nearly the entire US through January 10, with more seasonal weather in the second half of the month.

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