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US natgas futures hit over 2-week low on lower demand view

From boereport.com

U.S. natural gas futures fell about 2% to a more than two-week low on Monday, weighed down by lower demand forecasts for this week than previously expected due primarily to a drop in feedgas to the Freeport LNG export plant in Texas. Front-month gas futures NGc1 for April delivery on the New York Mercantile Exchange were 3.4 cents lower, or 1.9%, to $1.74 per million British thermal units (mmBtu) by 10:16 a.m. ET. “As long as it’s (Freeport LNG) offline, the market is going to stay little sluggish,… there’s not enough weather demand too, to overcompensate for the that loss of demand on the LNG export” said Thomas ... (full story)

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  • Category: Fundamental Analysis