U.S. Natural Gas Futures Trim Gains

Deep News05-12

U.S. natural gas futures gave back some of their gains from the previous day, as weather-driven demand in the near term remains weak. Eli Rubin of EBW Analytics noted in a report that the decline in supply following the end of the heating season is not unexpected, considering the low seasonal demand and scheduled pipeline maintenance. He stated that supply constraints typically persist until early to mid-June. While a rebound could occur at some point within the next 30 to 45 days, the growing storage surplus and recovering production "present headwinds for NYMEX natural gas futures from mid-summer to late summer." Natural gas prices fell by 2.6%, settling at $2.834 per million British thermal units.

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