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Rich Asplund

The Outlook for Cooler US Temps Weighs on Nat-Gas Prices

United States Sep Nymex Electricity BNEF Natural Gas

Sep Nymex natural gas (NGU24) on Friday closed down -0.001 (-0.05%).

Sep nat-gas prices on Friday fell to a new 3-month nearest futures low and closed slightly lower.  The outlook for cooler US weather that will curb nat-gas demand from electricity providers to power air conditioning is weighing on prices.  Forecaster Atmospheric G2 said Friday that the north-central and northeastern parts of the US are expected to have cooler temperatures for August 7-11.   Nat-gas prices recovered most of their losses Friday after a fall in the dollar index (DXY00) to a 4-1/2 month low sparked short covering.

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