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Natural Gas gains 10 cents

Posted on: June 27, 2017

The favorable temperature forecast in the East heated up both prices and demand. BNEF gas supplies estimate called for a 51-Bcf gain which is below the 5-year average of 72-Bcf. The Bloomberg consensus estimate was 61-Bcf at the end of last week. Gas supplies totalled 2.77-Tcf contrasting 3.10-Tcf this time last year.

Additional price support came from the increase in natural gas exports to Mexico not likely to subdue anytime soon but facing long-term pressure from alternative energy sources. Overall, NG settled at $3.027 representing a 10 cent DoD increase.


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