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Rich Asplund

Nat-Gas Prices Supported by the Outlook for Hotter US Temps

United States Sep Nymex Electricity BNEF Natural Gas

Sep Nymex natural gas (NGU24) on Monday closed up by +0.046 (+2.15%).

Sep nat-gas prices on Monday climbed to a 2-1/2 week high on Friday and settled moderately higher.  Forecasts for hotter US temperatures that will boost nat-gas demand from electricity providers to run air conditioning pushed prices higher Monday.  The Commodity Weather Group said Monday that forecasts had shifted hotter in the eastern and southwestern parts of the US for August 17-21.  Nat-gas prices Monday also garnered some carryover support from a rally in European nat-gas prices to an 8-month high.

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