U.S. Natural Gas Futures Resume Slide on Mild Weather Outlook
Dow Jones10-23
1054 ET - U.S. natural gas futures are lower as weather forecasts shed more near-term heating demand. "With warmer overnight trends, the weather data maintains a solidly bearish pattern for most of the next 15 days," NatGasWeather.com says in a note. The first week of November is "very El Niño-like" with warmer-than-normal temperatures over most of the northern 2/3 of the U.S., the forecaster says. "Clearly, the longer it takes for colder/bluer weather maps to show up in the weather models, the more impatient the natural gas markets are likely to get waiting." Nymex natural gas is down 3.3% at $2.703/mmBtu.
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