November Nymex natural gas (NGX25) on Friday closed down by -0.163 (-4.99%).
Nov nat-gas prices dropped to a 2.5-week low on Friday and settled sharply lower on ample storage and warmer US weather forecasts, which should curb heating demand for nat-gas. As of October 3, US nat-gas supplies in storage are +4.5% above their 5-year seasonal average, signaling adequate supplies. Warmer-than-normal US temperatures are also weighing on nat-gas prices as forecaster Atmospheric G2 said on Friday that the outlook turned warmer for the eastern half of the country for October 20-24.
