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Natural Gas Sees 10% Weekly Fall on Withering Demand - The Wall Street Journal

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Natural Gas Sees 10% Weekly Fall on Withering Demand - WSJ

1444 ET – Natural gas prices end the day with a small, 0.6% gain to $2.172/mmBtu, but finish 10% lower for the week as the market continues to buckle under the weight of an abundance of supply and weak demand. US LNG demand in Asia and elsewhere has struggled in 2023 as last year’s surge in prices forced many Asian nations to turn back to coal. Domestically, gas demand is also just chugging along slowly due to a shrinking US manufacturing sector and a mild winter and spring that hurt heating and cooling demand. Through the first five months of the year, the market is down 51%. ( dan.molinski@wsj.com)

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