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Natural Gas Craters Below $8 on Surprise US Supply Build

From fxdailyreport.com

Natural gas futures plunged on Thursday after the US government reported a surprise build in domestic stockpiles. The energy commodity has struggled this week, joining the broader commodities market decline. The selloff has been driven by lackluster cooling demand, as well as reports suggesting greater capex investments amid surging inflation. September natural gas futures plummeted $0.427, or 5.17%, to $7.84 per million British thermal units (Btu) at 14:40 GMT on Thursday on the New York Mercantile Exchange. Over the last month, natural gas has gained 30.3%, but it is on track for a weekly loss of about 2%. ... (full story)

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  • Category: Fundamental Analysis