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Supply and Demand Could Drive Natural Gas Prices Higher

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Part 2
Supply and Demand Could Drive Natural Gas Prices Higher PART 2 OF 6

Mild US Weather Could Impact Natural Gas Demand

Natural gas prices  

September US natural gas (UGAZ) (FCG) futures contracts fell 0.64% to $2.78 per MMBtu (million British thermal units) in electronic trading at 1:55 AM EST on August 4, 2017.

The United States Natural Gas (UNG) fell 0.3% to 6.28 on August 3, 2017. So far, UNG has fallen 32.8% in 2017—near a six-month low. US active natural gas futures are also near a six-month low.

Lower natural gas prices have a negative impact on natural gas producers like Rice Energy (RICE), Exco Resources (XCO), Antero Resources (AR), and Newfield Exploration (NFX).

Mild US Weather Could Impact Natural Gas Demand

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Weather forecasts  

The U.S. Energy Information Administration estimates that electricity generation will use less natural gas this summer—compared to the previous summer. It suggests lower demand for natural gas.

The latest forecasting models predict that showers and mild temperatures will persist in the midwestern, southern, and eastern parts of the US for a week. The southern parts of the US could be warmer next week. The western parts of the US would be warmer than normal for the next two weeks. Overall, the weather is expected to be mild for the next ten days. It could lead to lower-than-expected demand for natural gas in the next ten days.

Most US households use natural gas for heating and cooling purposes. Changes in demand influence natural gas (UNG) (FCG) prices. The rollercoaster ride in natural gas prices impacts natural gas producers like Exco Resources and Antero Resources.

Changes in the weather and demand influence US natural gas inventories.

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