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US natgas prices fall 3% to near 6-month low on milder forecasts

From boereport.com

U.S. natural gas futures fell about 3% to a fresh near six-month low on Tuesday on record output and forecasts for milder weather and lower heating demand than previously expected that should allow utilities to leave more gas in storage than usual through late December. Analysts forecast there was currently about 7.8% more gas in storage than usual for this time of year. Front-month gas futures for January delivery on the New York Mercantile Exchange fell 6.5 cents, or 2.7%, to $2.366 per million British thermal units (mmBtu) at 9:42 a.m. EST (1442 GMT), putting the contract on track for its lowest close since June ... (full story)

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  • Category: Fundamental Analysis