- U.S. natural gas sold off along with crude oil today, tumbling 3.8% to settle at $2.849/MMBtu on forecasts for mild weather.
- Temperatures look like they will be mostly normal in eastern third of U.S. during July 15-19, according to MDA Weather Services, as several weeks' speculation that a hot summer would send nat gas prices soaring has failed to materialize.
- “If the heat is gonna come, it better get coming in July,” a senior market analyst at Price Futures Group tells Bloomberg. “If the summer is not that hot, I think you’re going to see downward pressure on prices.”
- Stockpiles remain above normal for the time of year, and production is recovering from last year’s drop.
- Most top gas producers fell sharply in today's trade: SWN -7.8%, CHK -6.6%, RRC -5.6%, AR -3.6%, EOG -2.2%, COG -0.9%.
- ETFs: UNG, UGAZ, DGAZ, BOIL, GASL, FCG, GAZ, KOLD, UNL, GASX, DCNG, GAZB
- Now read: Chesapeake Energy: An Actual Turnaround?
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U.S. gas plunges as temps seen mostly normal in eastern third of U.S.
Published 07/05/2017, 07:12 PM
Updated 07/05/2017, 07:12 PM
U.S. gas plunges as temps seen mostly normal in eastern third of U.S.
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