US natgas futures fall 2.6% to $2.836/mmBtu as temperatures moderate
US natural gas futures for October delivery fell 2.6% to settle at $2.836 per million British thermal units on Monday. Forecasts for milder temperatures and lower oil prices weighed on the market.
(Adds latest prices) By Vedika Thorat Sept 21 (Reuters) — US natural gas futures fell more than 3% on Monday as forecasts for milder temperatures and lower oil prices weighed on the market after weeks of weather-driven strength. 836 per million British thermal units. "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.
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