BUZZ-Natgas companies down on higher output, milder weather forecasts

Reuters09-03
BUZZ-Natgas companies down on higher output, milder weather forecasts

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

** U.S. natgas futures NGc1 down 0.7% at $2.97 per million British thermal unit

** On Friday, the contract closed at its highest since July 8. U.S. markets were closed for the Labor Day holiday on Monday

** Natural gas prices fell on near-record output, ample supplies of gas in storage, a small decline in flows to liquefied natural gas export plants, and forecasts for milder weather and lower demand next week than previously expected

** Shares of natgas companies Cheniere Energy LNG.N down ~1%, Williams Companies WMB.N down 1.8% and New Fortress Energy NFE.O down 3.3%

** ETFs United States Natural Gas Fund UNG.P down 1.3%, and ProShares Ultra Bloomberg Natural Gas BOIL.P down 3%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com))

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