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Barchart
Rich Asplund

Warm US Spring Temps Weigh on Nat-Gas Prices

United States Nymex BNEF EIA Natural Gas

May Nymex natural gas (NGK25) on Thursday closed down by -0.002 (-0.06%).

May nat-gas prices on Thursday fell to a 2-1/2 month low and settled slightly lower.  On Thursday, nat-gas prices were under pressure on forecasts for warm spring US temperatures that will curb heating demand and allow nat-gas inventories to rebuild.  Forecaster Atmospheric G2 said Thursday that forecasts shifted warmer for the eastern two-thirds of the US for April 22-26.  However,  short covering emerged in nat-gas futures Thursday, and prices recovered almost all of their losses after weekly EIA nat-gas inventories rose +16 bcf, below expectations of+24 bcf.  

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