March Nymex natural gas (NGH26) on Wednesday closed down by -0.020 (-0.66%).
March nat-gas prices on Wednesday added to Tuesday's sharp losses and posted a 4-month nearest-futures low. Nat-gas prices are slumping as weather forecasts call for above-normal temperatures across the eastern half of the US for the rest of this month, potentially curbing nat-gas heating demand. Also, the warmer-than-normal temperatures will allow US nat-gas storage levels to rebuild. The Commodity Weather Group on Wednesday said above-normal temperatures are expected across the eastern half of the US through February 22, while mostly normal seasonal weather is expected for the following week.
