0948 ET - U.S. natural gas futures are lower with the market waiting for hotter summer weather to lift demand, while the storage surplus remains a weight on prices. "The long-term outlook for natural gas is still pretty bullish even though the weather and the short-term larger-than-expected increases in supplies are weighing down the market momentum," says Phil Flynn of the Price Futures Group. Still, it's considered premature to draw conclusions about the summer season, and "models indicate the possibility of another heat wave this summer, which could again test technical resistance levels," he adds. Nymex natural gas is down 1.7% at $3.353/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
July 08, 2025 09:49 ET (13:49 GMT)
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