1000 ET - U.S. natural gas futures continue to lose ground with production picking up while storage levels remain in surplus after a solid spring injection season. Prices have been a "no win trade" for bulls with inventories more than 6% above the five-year average and strong wind and solar generation filling the void to meet power demand from heat in the Midwest and the East, Dennis Kissler of BOK Financial says in a note. Still, heavy fund shorts put on in recent sessions leave "a lot of upside room for short-covering that could be triggered if we see the current heat wave stay in place," he adds. Nymex natural gas down is down 3.4% at $3.337/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 01, 2025 10:01 ET (14:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.