U.S. Natural Gas Futures Fall Ahead of Inventory Data
Dow Jones
Yesterday
1022 ET - U.S. natural gas futures are lower for a third straight session as the market awaits inventory data from the EIA while focusing on coming mild weather. "A third failed attempt at $3.00/mmBtu has recast momentum steeply lower," Eli Rubin of EBW Analytics says in a note. A widening year-over-year storage deficit could provide near-term support for prices, although a key driver of weakness remains the winter strip with robust end of season storage, increasing production and prospects of a mild winter weighing, he adds. Nymex natural gas is off 1.6% at $2.776/mmBtu.
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