US natgas futures fall 2% as temperatures moderate, oil prices ease
US natural gas futures dropped more than 2% on Monday, weighed down by forecasts for milder temperatures and easing oil prices after several weeks of weather-driven gains. October delivery futures on the New York Mercantile Exchange were down 6.3 cents, or 2.2%, to $2.85 per million British thermal units.
By Vedika Thorat Sept 21 (Reuters) — US natural gas futures fell more than 2% on Monday as forecasts for milder temperatures and lower oil prices weighed on the market after weeks of weather-driven strength. m. ET. "The weather has moderated.
And typically, for natural gas, weather plays a key role, especially short-term. And so with the moderating weather, moderating temperatures, the market is moving off a little bit here," said Thomas Saal, senior vice president at StoneX. Meteorologists forecast weather would remain mostly warmer than normal through October 4. 2 bcfd in August.
8 bcfd next week. 7% above normal in the previous week, according to early estimates ahead of Thursday's weekly federal inventory report. EIA/GAS NGAS/POLL Meanwhile, oil prices slid towards the psychological threshold of $100 a barrel and to their lowest in 11 days as investors hoped for diplomatic progress on the Iran war due to this week's United Nations meeting, and eyed a partial recovery in shipments from Saudi Arabia. 8 bcfd in April.
Dutch and British gas prices fell, also on hopes of progress on the Iran conflict, and with temperatures expected to be unseasonally mild next week. com;)