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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Weighed Down by Ample US Supplies and Mild Temperatures

May Nymex natural gas (NGK24) on Friday closed down by -0.024 (-1.47%).

May nat gas prices Friday tumbled to a 3-3/4 year nearest-futures low and closed moderately lower.  Ample US nat-gas supplies and mild spring temperatures are weighing on gas prices.   As of April 19, nat-gas inventories were +37.0% above their 5-year seasonal average, signaling ample nat-gas supplies.  Also, mild temperatures that will curb heating and air-conditioning demand for nat-gas is bearish for prices after Atmospheric G2 said Friday that the forecast is shifting warmer across the central and eastern parts of the country from May 1-5.  

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