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Barchart
Rich Asplund

The Outlook for Hot US Temps Pushes Nat-Gas Prices Higher

United States Nymex BNEF EIA Natural Gas

October Nymex natural gas (NGV25) on Tuesday closed up +0.067 (+1.97%).

Oct nat-gas prices recovered from a 2-week low on Tuesday and rallied sharply on forecasts for late summer heat in the US that will boost nat-gas demand and limit the buildup of inventories ahead of the critical winter heating season.  Forecaster Atmospheric G2 said Tuesday that much hotter-than-normal temperatures are forecast across most of North America for September 21-25, which will boost nat-gas demand from electricity providers to power increased air conditioning usage.  Also, forecasts shifted warmer over the eastern two-thirds of the US for September 26-30.  

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