U.S. Natural Gas Futures Give Back Gains

Dow Jones
08/25

0912 ET - U.S. natural gas futures fall back after rising the previous two sessions with support from extended summer weather. "This market appears to be seeing some bearish spillover from the sharp decline in the oil complex," Ritterbusch & Associates says in a note. The possibility of another weather-driven spike higher will diminish as the October contract moves to the front of the curve this week, the firm says. The market "will require some evidence of production slippage or an increase in export activity if the sizable storage surplus is to see a meaningful reduction in the coming weeks." Nymex natural for September delivery is down 2.8% to $2.704/mmBtu.

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