April Nymex natural gas (NGJ23) on Tuesday closed down -0.058 (-2.78%).
Apr nat-gas this morning extended Monday's losses to a new 5-week low. The main bearish factor is the outlook for mild U.S. weather that would reduce heating demand for nat-gas. The Commodity Weather Group said that above-normal temperatures are seen in the eastern half of the U.S. from April 1-11. Nat-gas prices are also under pressure as the ongoing delay to restart full operations at the Freeport LNG export terminal may boost U.S. nat-gas stockpiles as exports are curtailed.
