Nat-Gas Prices Fall on Forecasts for Cooler US Temps

Nymex Nymex (NGN25) natural gas (NGN25) was closed on Friday by -0.142 (-3.56 %).

Nat gas prices fell on Friday from the earliest 2-1/two months at the high course and settled sharply. Long liquidation pressures pushed the decrease in the prices of NAT GAS on Friday, as the weather forecast for us to return to normal from excessive heat that begins in the next month may be to curb the NAT GAS request from electricity service providers to operate air conditioning. The weather group said on Friday that normal temperatures are expected to be often throughout the two -thirds of the United States on June 30.

The geopolitical risks of the Israel war supports Iran gas prices to worry that any attempt by Iran to close the hormone strait can disrupt liquefied natural gas shipments through this strait, which represents about 20 % of the global LNG trade.

Dry dry gas production was 48 on Friday 106.7 BCF/Day (+3.3 % Y/Y), according to Bnef. The demand for gas in the lower state was 48 on Friday 69.8 BC/Day (-11.3 % year), according to Bnef. The clear flow of LNG was to the LNG export stations on Friday 13.8 BC (+0.3 % W/W), according to Bnef.

An increase in the production of electricity in the United States is positive for the NAT-GAS request from service providers. The Edison Electricity Institute informed on Wednesday that the total total electricity in the United States (less than 48) in the week ended on June 14, rose 0.8 % on an annual basis to 85,329 GB, Gigawatt, and electricity in the United States in a 52 -week period ending on June 14 +2.9 % Y/Y to 4,246,808 GWH.

The weekly EIA report was mixed on Wednesday with NAT-GAS prices since NAT-GAS stocks have risen on June 13 +95 BCF, less than +97 BCF expectations but much higher than average building for 5 years for this time of the year of +72 BC. As of June 13, NAT -GAS -8.0 % stocks on an annual basis and +6.1 % higher than the seasonal average for 5 years, indicating enough NAT GAS supplies. In Europe, gas storage was 54 % full of June 16, compared to a 54 % seasonal average at this time of the year.

Baker Hughes said on Friday that the number of drilling platforms in the active United States in the week ending June 20 by 2 to 111 platforms, just less than the highest level in 114 months from 114 platforms from June 6. In the past nine months, gas platforms have risen from 4 years from 94 platforms published in September 2024.

On the date of publication, Rich Asplund did not have positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article are only for media purposes. This article was originally published on Barchart.com