Natural Gas futures hit multi-month lows
Natural Gas futures drop on storage build
September Natural Gas futures fell to their lowest level since January 22, dropping 1.98% as the trading week nears its close.
The decline comes following the latest EIA storage report, which revealed a 33 billion cubic feet build for the week ending July 31.
Total working gas in storage stands at 3,117 billion cubic feet, remaining 195 billion cubic feet above the 5-year average while staying within historical ranges.
Despite current downward price pressure, hot summer weather across most of the U.S. is expected to drive strong cooling demand over the next seven days, with temperatures reaching into the 80s to 110s across major regions.