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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Under Pressure from Mild U.S. Temperatures

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

June Nymex natural gas (NGM23) on Thursday closed down -0.126 (-5.46%).

Jun nat-gas Friday dropped to a 2-week low and closed sharply lower.  Forecasts for seasonal U.S. temperatures that will reduce nat-gas demand from electricity providers to power air conditioning weighed on nat-gas prices.  The Commodity Weather Group is forecasting mild temperatures across the southern and eastern U.S. over the next 15 days.  Also, a plunge in European nat-gas price Friday to a 2-year low is undercutting U.S. gas prices.  

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