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Barchart
Rich Asplund

Nat-Gas Prices Under Pressure as US Weather Forecasts Shift Cooler

United States Nymex BNEF EIA Electricity Natural Gas

August Nymex natural gas (NGQ24) on Wednesday closed down by -0.017 (-0.70%).  

Aug nat-gas prices Wednesday moved lower for the seventh consecutive session and posted a 7-week low.  Nat-gas prices remain under pressure as weather forecasts have been trending cooler in the US, which will curb nat-gas demand from electricity providers to run air-conditioning.  The Commodity Weather Group said Wednesday that forecasts moved cooler for the central part of the US for July 8-12.  Wednesday's weekly EIA nat-gas inventories rose +32 bcf, close to expectations of +31 bcf.

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