U.S. Natural Gas Futures Fall Ahead of Storage Data
Dow Jones08-06 21:25
0925 ET - U.S. natural gas futures are lower as the market awaits weekly inventory data from the EIA, due at 10:30 a.m. ET. Analysts in a WSJ survey expected a 31 Bcf storage build, slightly smaller than the previous week's increase but above the five-year average for the week. The next five days "may mark the last major national cooling demand boost of the summer," Eli Rubin of EBW Analytics says in a note. While a bullish storage surprise could lend near-term support, fading heat, an expected increase in supply from the Permian basin and the storage surplus "underscore weak fundamentals in the end of summer." Nymex natural gas is off 1% at $2.662/mmBtu.
At the request of the copyright holder, you need to log in to view this content
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