Tuesday, May 21, 2019 at 5:00PM
After a solid "up" day for natural gas prices yesterday, today saw a reversal, with the market giving up those gains and then some in today's session. June prices fell 6 cents on the day. The decline was mostly due to production returning higher, confirming that the drop this past weekend was very short-lived. Because the rise in production was the main driver in today's price move, the impact was felt throughout the entire natural gas curve today. There were a couple of other bearish forces at work today, however, as LNG exports were notably lower today. We also had a lower revision in forecast weather demand this morning, albeit fairly small. We do still have some impressive heat to wade through in the near term, with numerous record highs possible in the Southeast over the next several days. Highs this Friday can reach the upper 90s in that portion of the country. We can even see some 100+ highs early next week. Will the coming heat alter the overall picture in the natural gas world? Sign up for a 10-day free trial here find out what our answer is, based on our latest research!