Nat-Gas Prices Drop as July Nymex Contract Expires

July Nymex natural gas (NGN26) on Friday closed down -0.112 (-3.35%).

Nat-gas prices retreated from a 3-month high on Friday and settled sharply lower.  Long liquidation pressured prices on Friday, the last day of trading for the expiring July Nymex nat-gas contract.

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Nat-gas prices initially moved higher on Friday on forecasts for above-average US temperatures, potentially boosting nat-gas demand from electricity providers to power air-conditioning.  The Commodity Weather Group on Friday said above-average temperatures are expected across the Midwest and Northeast through July 5.

US (lower-48) dry gas production on Friday was 112.5 bcf/day (+4.7% y/y), according to BNEF.  Lower-48 state gas demand on Friday was 71.2 bcf/day (-7.0% y/y), according to BNEF.  Estimated LNG net flows to US LNG export terminals on Friday were 19.1 bcf/day (+4.5% w/w), according

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/commodities/articles/nat-gas-prices-drop-july-191326440.html)