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Barchart
Rich Asplund

Warm US Weather Undercuts Nat-Gas Prices

United States Gas Prices Nymex Natural Gas EIA BNEF

November Nymex natural gas (NGX25) on Thursday closed down by -0.078 (-2.59%).

Nov nat-gas prices on Thursday gave up an early advance and dropped to a new 3-week low.  Warmer-than-normal US weather, which is expected to lead to reduced heating demand for natural gas, is weighing on gas prices.  Forecaster Atmospheric G2 stated that temperatures across most of the US for October 20-24 will be above normal, as "there are still no signs of any noteworthy cold air intrusions and no appreciable cold air over Canada."  Also, temperatures in the interior of North America are forecast to remain warmer-than-normal for October 25-29.  

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