Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

MTECHTIPS:-U.S. natural gas sinks to 12-week lows amid lack of cold weather

Tuesday, February 14, 2017 2:35
% of readers think this story is Fact. Add your two cents.

MTECHTIPS:-U.S. natural gas sinks to 12-week lows amid lack of cold weather

B4INREMOTE-aHR0cHM6Ly80LmJwLmJsb2dzcG90LmNvbS8tV254RDFrd0ltdnMvV0tMSzlMZXlMSEkvQUFBQUFBQUJEUVkvOUxyS2NrV3hMYzhmN1NOaHdsWWg5VGU5UUdEbzRQYnpRQ0xjQi9zMTYwMC9OR0FTLmpwZw==

 

MTECHTIPS- U.S. natural gas futures fell sharply on Monday, hitting the lowest level since November as forecasts continued to call for mostly warmer-than-normal weather in key regions across the U.S. for the rest of the winter. Natural gas for March delivery on the New York Mercantile Exchange sank to a session low of $2.952 per million British thermal units, a level not seen since November 23. It was last at $2.964 by 9:25 AM ET (14:25 GMT), down 7.0 cents, or around 2.3%. Prices of the heating fuel are down almost 21% since the start of the year as forecasts for warm winter weather weighed on heating demand expectations. Natural gas markets have been volatile in recent weeks, changing course rapidly in response to shifting outlooks in short-term weather patterns. About half of U.S. homes use natural gas for heating. Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a draw in a range between 122 and 133 billion cubic feet in the week ended February 10. That compares with a withdrawal of 152 billion cubic feet in the preceding week, 163 billion a year earlier and a five-year average drop of 156 billion cubic feet.

 

Apply For 2 Days Free Trails Equity & Commodity tips

 

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

Report abuse

Comments

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
 

Featured

Loading...

Top Global

Top Alternative

 

Register

Newsletter

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.