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Natural Gas Moves Lower Despite Hot Weather Forecasts

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Natural gas prices fell early Wednesday even as long-term forecasts see warmer than seasonal weather coming for most states. Gas for June delivery was last seen down $0.05 to US$3.06 per million British thermal units.

The drop comes even as long-term forecasts from the National Weather Service expect all lower-48 states to see seasonal or warmer temperatures over its six to 14 outlook, with nearer-term forecasts seeing hot weather for big markets.

"Record high temperatures will impact much of the East Coast.....with highs of lower to mid-90s and decently strong demand for cooling this early in the season," NatGasWeather noted.

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