U.S. Natural Gas Retreats as Weather Set to Cool Down
Dow Jones
Yesterday
1518 ET - U.S. natural gas futures start the week lower with the market bracing for cooler late-September weather that will reduce power-sector demand. "Cooling demand is expected to step down steadily through the second half of September, making today's decline look more like a repricing of near-term weather exposure than a sharp deterioration in fundamentals," Gelber & Associates says in a note. Strong LNG demand remains the strongest counterweight to bearish weather, the firm adds. Nymex natural gas settles down 2% at $2.916/mmBtu.
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