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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Tumble as US Weather Forecasts Warm

November Nymex natural gas (NGX24) on Monday closed down by -0.138 (-5.24%).

Nov nat-gas prices Monday tumbled to a 3-week nearest-futures low and closed sharply lower.   Forecasts for warmer US temperatures that will reduce heating demand for nat-gas are weighing on prices.  Forecaster Maxar Technologies said Monday that forecasts shifted warmer for the Midwest and eastern part of the  US for October 19-23.  Also, fuel demand concerns are undercutting nat-gas prices.  As of Monday afternoon, about 400,000 people in Florida were still without power due to outages caused by Hurricane Milton, reducing nat-gas demand from electricity providers.  

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