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Barchart
Rich Asplund

Nat-Gas Prices Slammed as US Weather Forecasts Turn Warmer

United States Nymex BNEF Natural Gas

February Nymex natural gas (NGG25) on Tuesday closed down sharply by -0.303 (-7.70%).

Feb nat-gas prices on Tuesday sold off sharply and gave back nearly half of Monday's surge after US weather forecasts warmed considerably, which alleviated concerns that frigid temperatures next month would substantially boost heating demand for nat-gas.   Forecaster Maxar Technologies said Tuesday that weather models for the Midwest and South shifted to warmer temperatures for the January 10-14 outlook.  Nat-gas prices on Monday had surged to a nearly 1-year nearest-futures high on a colder outlook for next month.

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