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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Tumble on the Outlook for Warmer US Temperatures

United States Gas Prices Commodity Weather Group Natural Gas Nymex BNEF EIA

March Nymex natural gas (NGH26) on Tuesday closed down by -0.070 (-2.35%).

March nat-gas prices tumbled to a 4.25-month nearest-futures low on Tuesday and settled sharply lower.   The outlook for warmer US temperatures, which will reduce nat-gas heating demand, is weighing on prices.  On Tuesday, the Commodity Weather Group said forecasts shifted warmer, with above-normal temperatures expected across the western half of the US through the end of the month.  Also, high US nat-gas production and warmer weather are expected to turn the current US nat-gas storage deficit into a surplus in the coming weeks.

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