BUZZ-Natgas companies down on near-record output and cooler weather forecasts

Reuters
08/12
BUZZ-Natgas companies down on near-record output and cooler weather forecasts

** Shares of U.S. natural gas companies down, tracking a fall in natgas futures NGA/

** U.S. natgas futures NGc1 down 4.7% at $2.817 per million British thermal unit

** Natural gas prices fell on near-record output, ample supplies of the fuel in storage and forecasts of cooler weather and lower demand than previously expected through late August

** The price decline was accompanied by a drop in daily gas flows to liquefied natural gas export plants and the approach of a storm that could hit the U.S. East Coast as a demand-destroying hurricane next week

** Shares of natgas companies: CNX Resources CNX.N down marginally, EQT Corp EQT.N down 2%, Cheniere Energy LNG.N down 1.3% and Williams Companies WMB.N down 1.4%

** ETFs — United States Natural Gas Fund UNG.P down 5% and ProShares Ultra Bloomberg Natural Gas BOIL.P down 8%

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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