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Natural Gas Futures Continue to Deteriorate as Production ‘Much Too Strong’ and Cash Dips

From naturalgasintel.com

With only pockets of demand across the United States, a significant drop in production on Tuesday did little to stop a slide in natural gas prices that has left the prompt month nearly a quarter lower than it was a week ago. The November Nymex gas futures contract fell another 4.7 cents to settle at $2.283/MMBtu. December dropped 2.4 cents to $2.48. Cash prices were mixed as the upper high pressure that is keeping Texas temperatures in the 90s is also resulting in comfortable conditions across the core Midwest and Northeast. Western markets posted some of the largest day/day changes, and the NGI Spot Gas National ... (full story)

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  • Category: Fundamental Analysis