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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Surge on Lower US Gas Output and Colder US Weather

December Nymex natural gas (NGZ24) on Monday closed up sharply by +0.251 (+9.40%)

Dec nat-gas prices soared Monday to a 6-week nearest-futures high.  A decline in US nat-gas production and cooler US weather forecasts that will boost heating demand for nat-gas have sparked a rally in nat-gas prices.  On Monday, lower-48 state dry gas production fell -7.0% y/y to 98.3 bcf.  Also, forecaster Maxar Technologies said Monday that forecasts have shifted colder for the eastern part of the US, and in the longer term, the weather is now expected to be cooler for the southern half of the country at the end of the month.  

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