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US natgas prices ease on lower demand forecast, storage oversupply
U.S. natural gas futures eased about 1% on Tuesday from a 15-week high in the prior session on forecasts for lower demand over the next two weeks than previously expected and worries about a big oversupply of gas in storage. Analysts forecast the amount of gas in storage was around 31% above normal levels for this time of year. That price decline came despite a big reduction in output in recent months due to relatively low prices and an increase in gas flows to liquefied natural gas (LNG) export plants following the return to near full service of Freeport LNG’s plant in Texas after a maintenance outage. Front-month ... (full story)