NG is down over 1% this morning. This appears to be largely due to cooler forecast changes in late week #1 and early week #2. Late week #2 appears pretty much unchanged, if not a touch warmer.
July later dipped to 2% down (just under 2.90) but has since come back some.
I agree completely Larry and am surprised that we are down this much but congrats to tj.
Thanks for getting us started too.
July Natural Gas Lower Again Ahead of Open on Short-term Heat
8:53 AM
July natural gas prices remained firmly in the red ahead of market open Tuesday, trading 4.3 cents lower at $2.908 as cooler trends forecast over the next week sent prices sliding for the second day in a row.
This is what the dome looked like on the last GFS.
gfs_namer_384_200_wnd_ht | gfs_namer_384_500_vort_ht |
gfs_namer_384_1000_500_thick | gfs_namer_384_850_temp_ht |
But more importantly to the market today:
Temperatures cooling off now in the Upper Midwest and cooling spreads south:
Highs days 3-7 shows even more cooling in the Midwest that wasn't there on forecasts yesterday.
More heat in the NWS extended guidance:
Temperature Probability 6-10 day | ||
Precipitation Probability
| ||
July Natural Gas Softens Again Even as Weather Models Flip
5:48 PM
July natural gas prices fell for a second straight day Tuesday, sliding 5.1 cents to $2.90 as the latest weather outlooks held cooler trends for early next week, but then flipped to hotter trends for late in the week and into early Jul
