Weather forecast report and natural gas prices

Weather forecasting agencies predict mild weather in the southern and middle Atlantic regions of the US for the next two weeks. These regions are major natural gas (GASX) (BOIL) (GASL) consumers.

Chart of the Week: Weather Forecast Report for Natural Gas

Some weather forecasting models suggest that hot weather will persist in some parts of the US. Overall, temperatures are expected to be below normal for the next 15 days. US natural gas demand usually hits a seasonal low during the spring’s mild weather. More than 50% of US households use natural gas for heating and cooling purposes. Lower demand impacts inventories, which in turn have a negative impact on natural gas (FCG) (UGAZ) prices.

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