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US natgas prices hit one-month lows on surplus inventory
U.S. natural gas futures dropped to their lowest levels in about a month on Monday, pressured by forecasts of a less cold winter and surplus storage levels. Front-month gas futures for December delivery on the New York Mercantile Exchange fell 2.3 cents, or 0.8%, to $2.94 per million British thermal units at 10:40 a.m. EST, having slid to their lowest level since Oct. 23 earlier. “The market is looking at the possibility that we’re going to have a warmer-than-average winter… and if that’s the case, natural gas is going to have a hard time keeping up with gains,” said Phil Flynn, an analyst at Price Futures ... (full story)
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- Posted: Nov 20, 2023 6:25pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 82
