Natural Gas Extends Losses on Mild Weather Outlook - The Wall Street Journal
Natural Gas Extends Losses on Mild Weather Outlook - WSJ
Updated Nov. 21, 2023 2:53 pm ET
1447 ET – Natural gas futures fall for a fourth straight session to settle at their lowest since early October as the market is still waiting for the colder weather that could lift demand. “Given the current excess supply (storage) in both the US & Europe along with record production, we will need to see below average temps show up soon if we’re to keep prices north of $3.00 for the winter,” BOK Financial’s Dennis Kissler says in a note. The market is also looking to the EIA’s storage report for the week ending Nov. 17, due at 12 p.m. EST Wednesday. A small but unseasonal build of 2 Bfc is expected, according to a Wall Street Journal survey of analysts. The December contract settles down 1.2% at $2.846/mmBtu. ( anthony.harrup@wsj.com)
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