Natural Gas Edges Down | Glenrock Gazette

Natural Gas Edges Down

Natural gas edged down early on Tuesday, remaining near three-year lows as weather demand remains low and production flows to storage.

Gas for July delivery was last seen down US$0.02 to US$2.28 per million British thermal units in Nymex electronic trade.

Temperatures are rising in the U.S. South and Midwest, potentially raising cooling demand as air-conditioning use climbs.

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Mild weather has checked demand for the fuel, with Credit Suisse saying U.S. spring temperatures have been much cooler than average.

“Last week’s weather was 29% colder than the year-ago week and 25% colder than the 5-year average,” the investment bank said in a note. “Since May, weather has been 22% and 17% colder than last year and the 5-year average, respectively.