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Natural gas ends down, back in bearish mode despite forecasts for cold
Growing expectations for sustained cold temperatures from February helped natural gas to briefly extend a rally from the previous day before falling at Tuesday’s close as short-sellers returned to dominate futures of the heating fuel wrecked by unseasonable warmth this winter. The front-month March gas contract on NYMEX’s Henry Hub settled at $3.057 per mmBtu, or metric million British thermal units, down 16.5 cents, or 5.1%. That virtually wiped out Monday’s 5.5% gain, which initially signaled price deviation in a market that has lost about 30% of its value since 2023 began, amid tepid heating demand in one of ... (full story)
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- Posted: Jan 25, 2023 12:15am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 92
