U.S. Natural Gas Futures Fall in Up-and-Down Trade
Dow Jones08-04
0940 ET - U.S. natural gas futures are lower, following their recent pattern of rising one day and falling the next as solid production and soft LNG feedgas offset high seasonal power-sector demand. While weather forecasts have been leaning toward warmer than normal, "temperature deviations from normal don't yet appear sufficient to spur much of a price advance from here," Ritterbusch & Associates says in a note. As the U.S. moves into the late stage of the cooling cycle, "this is beginning to look like a market that can be approached from both sides in the coming weeks as the weather factor diminishes in importance," the firm adds. Nymex natural gas is down 3% at $2.697/mmBtu.
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