BUZZ-Natgas companies fall amid strong production, soft demand

Reuters07-01
BUZZ-Natgas companies fall amid strong production, soft demand

** Shares of U.S. natural gas companies down, tracking a fall in natgas futures NGA/

** U.S. natgas futures NGc1 down 4.5% at $3.30 per million British thermal units

** Natural gas prices fell more than 4%, weighed down by expectations of rising production and milder weather that are expected to support above-average storage injections and curb demand in the coming weeks

** Shares of natgas companies down: NextDecade NEXT.O falls 2.8%, CNX Resources CNX.N loses ~4% and Energy Transfer ET.N sheds 1.3%

** EQT Corp EQT.N dips 4.7%, Cheniere Energy LNG.N falls 2.1% and Williams Companies WMB.N down 5.4%

** ETFs United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P down 2.6% and 4.9%, respectively

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment