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US natural gas futures fell as weather forecasts shifted cooler for the central part of the country. Gas storage remains significantly above the five-year average, inciting fears of a continued oversupplied market. https://t.co/jLIX03xWH4
US natural gas futures fell as weather forecasts shifted cooler for the central part of the country. Gas storage remains significantly above the five-year average, inciting fears of a continued oversupplied market. https://t.co/iQBSKgYDOm
⚠️ U.S. NATURAL GAS FUTURES EXTEND LOSSES, PRICES FALL TO LOWEST SINCE MAY
US natural gas futures prices fell by $0.10, or 4%, from $2.71 to $2.60 for the week ending June 28. The 12-month future spread has decreased by 104% since June 11, closing $0.04 below the lower Bollinger band limit as of June 30. Prices have extended losses, reaching their lowest levels since May, as of July 1, as weather forecasts shifted cooler for the central part of the country. Additionally, gas storage remains significantly above the five-year average, raising concerns about a continued oversupplied market.