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Rich Asplund

Warm US Temps and Sinking Crude Prices Weigh on Nat-Gas Prices

United States Nymex The Commodity Weather Group EIA Natural Gas BNEF

May Nymex natural gas (NGK26) on Wednesday closed down -0.146 (-5.09%).

Nat-gas prices tumbled to a 7.5-month nearest-futures low on Wednesday and settled sharply lower.  Above-normal US weather forecasts that reduce nat-gas heating demand are weighing on nat-gas prices.  The Commodity Weather Group said that above-average temperatures are  expected across the eastern half of the US over the next two weeks.  Nat-gas prices extended their losses on Wednesday in sympathy with the -15% plunge in crude oil prices after the US and Iran agreed to a ceasefire.

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