U.S. Natural Gas Futures Pull Back on Cooling Weather
Dow Jones09-21 21:35
0935 ET - U.S. natural gas futures start of the week lower as weather-driven demand is set to ease with a cooling of temperatures. "The gas market is pulling back partially in sympathy with lower oil prices and continued mild temperature forecasts across key consuming regions," Ritterbusch & Associates says in a note. Prices could find support from the shrinkage in the storage surplus, which is likely to continue through the end of September and "is a significant bullish consideration in our opinion," the firm says. Nymex natural gas is down 2.1% at $2.850/mmBtu.
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