Natural Gas Futures Give Back Some Post-Storage Gains - The Wall Street Journal
Natural Gas Futures Give Back Some Post-Storage Gains - WSJ
Dec. 29, 2023 9:04 am ET
0853 ET – Natural gas futures are lower and on appear on track for a weekly loss, giving up some of the previous day’s gains which followed a larger-than-expected draw on inventories for the week ended Dec. 22. After rising the previous week, gas prices remain under pressure as an unusually mild December draws to a close and participants look for colder January weather to lift demand. “The return to a declining price trend more accurately reflects the bearish fundamentals in what has been a warmer-than-normal winter so far,” Lu Ming Pang of Rystad Energy says in a report. “A combination of warmer weather, high underground storage levels, and high domestic gas production is expected to keep U.S. prices suppressed.” Natural gas for February delivery is off 1.2% at $2.526/mmBtu. ( anthony.harrup@wsj.com)
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