Natural Gas Prices Drop 3% in Further Retreat from $3 - The Wall Street Journal
Natural Gas Prices Drop 3% in Further Retreat from $3 - WSJ
Updated Oct. 2, 2023 3:27 pm ET
1454 ET – Natural gas prices end the session 3% lower at $2.840/mmBtu as the market continues to deflate after prices closed last Thursday at a seven-week-high just shy of $3/mmBtu. Analysts say the market’s failure to surpass $3 last week has triggered additional selling of the commodity as speculators worry that prices may continue to meander in the $2’s throughout the rest of the weak-demand fall season and perhaps even until the end of 2023. Weather patterns have been predictably mild in recent days, which is bearish, while the end of the hurricane season’s peak month of September without any disruptions to offshore gas production facilities is also keeping many would-be investors on the sidelines. ( dan.molinski@wsj.com)
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