Profile image
Story Views

Last Hour:
Last 24 Hours:

MTECHTIPS:-U.S. natural gas sinks 5% on unseasonably warm weather outlook

Tuesday, October 25, 2016 7:59
% of readers think this story is Fact. Add your two cents.

 MTECHTIPS:-U.S. natural gas sinks 5% on unseasonably warm weather outlook



MTECHTIPS- U.S. natural gas futures plunged to the lowest level in almost seven weeks on Tuesday, as forecasts showing unseasonably warm temperatures across the U.S. Midwest in the days ahead dampened demand expectations for the heating fuel. Natural gas for delivery in November on the New York Mercantile Exchange tumbled to a daily low of $2.772 per million British thermal units, a level not seen since September 8. It was last at $2.790 by 10:40 AM ET (14:40 GMT), down 4.1 cents, or 1.45%. Meanwhile, the more actively-traded December contract sank 15.6 cents, or 4.73%, to $3.162 per million British thermal units. It plunged 16.2 cents, or 5.41%, on Monday, as warmer-than-average weather in the Midwest prompted speculation that a mild winter will curtail demand for the heating fuel. Meanwhile, market players looked ahead to weekly supply data due on Thursday, which is expected to show a build of approximately 70 billion cubic feet in the week ended October 21.That compares with a gain of 77 billion cubic feet in the preceding week, 62 billion a year earlier and a five-year average build of 76 billion cubic feet. Total natural gas in storage currently stands at 3.836 trillion cubic feet, according to the U.S. Energy Information Administration, 1.2% higher than levels at this time a year ago and 4.8% above the five-year average for this time of year


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.