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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Tumble on Higher US Nat-Gas Production

September Nymex natural gas (NGU25) on Monday closed down -0.151 (-4.90%).

Sep nat-gas prices on Monday tumbled to a 3.5-month low and settled sharply lower.  Ramped-up US nat gas production is undercutting prices as recent US nat-gas output is up year-over-year.  Also, expectations for even higher US nat-gas production are weighing on nat-gas prices after last Friday's weekly report from Baker Hughes showed that the number of active US nat-gas drilling rigs in the week ending August 1 rose by +2 rigs to a 2-year high of 124 rigs.

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