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US natgas futures drop 4% on record U.S. output, lower demand forecast

From nasdaq.com

U.S. natural gas futures dropped about 4% on Tuesday on record U.S. output and forecasts for milder U.S. weather and lower demand over the next two weeks than previously expected. U.S. energy company Equitrans Midstream Corp's ETRN.N long-delayed $6.6 billion Mountain Valley gas pipe from West Virginia to Virginia could win federal approval as part of Washington's debt limit deal. Shares in Equitrans jumped about 43% to $8.70 on the news, putting the stock on track for its highest close since September 2022. If Equitrans is able to complete Mountain Valley in late 2023 or early 2024, it would boost the amount of fuel ... (full story)

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  • Category: Fundamental Analysis