Risk-off mood drags US Natural Gas 4.72% lower

Published: May 26 2023, 23:25 GMT+0

Risk-off mood drags US Natural Gas 4.72% lower

A quick look at today: after a mostly steady day, Natural Gas lost 10.9 cents late into the session and closed at $2.2 per MMBtu.

United States Core Durable Goods Orders fell short of the 0% projections, with new data of -0.2%. United States Pending Home Sales released earlier showed a marked improvement to 0% from the preceding data of -5.2%, but fell short of the 0.5% figure forecast by a consensus of market analysts.

While price action maintains a negative bias, United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

Positive performances can be seen by looking at other Energy markets as Crude Oil went up by 1.45% today, and closed at $72.87. Heating Oil added 1.24% and closed around $2.35 today. Brent Crude Oil is trading around $77.18 after ending today's session at $76.26 (up 1.21% today).

NYMEX Gas has shed 68.79% over the past six months.