June Nymex natural gas (NGM25) on Monday closed down by -0.221 (-6.63%).
June nat-gas prices on Monday extended their week-long slide to a 3-week low and settled sharply lower. Ample supplies and forecasts for cool US spring temperatures to continue are weighing on nat-gas prices. EIA nat-gas inventories as of May 9 are +2.6% above their 5-year seasonal average, signaling adequate nat-gas supplies. Also, the Commodity Weather Group said that on Monday, forecasts shifted cooler for the southern US for May 29-June 2, reducing electricity demand to power air conditioning.
