BUZZ-Natgas companies fall as production rises, demand softens

Reuters
30 Jul
BUZZ-Natgas companies fall as production rises, demand softens

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

** U.S. natgas futures NGc1 down 3.3% at $3.03 per million British thermal unit, after hitting their highest level since July 23 earlier in the session

** Natural gas prices fell as higher production and forecasts for milder weather that are expected to reduce cooling demand weighed on prices

** Shares of natgas companies: Energy Transfer ET.N down 1.1%, Cheniere Energy LNG.N and CNX Resources CNX.N down marginally

** NextDecade NEXT.O down marginally and New Fortress Energy NFE.O falls 8%

** ETFs — United States Natural Gas Fund UNG.P down 4.2% and ProShares Ultra Bloomberg Natural Gas BOIL.P down 8.3%

(Reporting by Pooja Menon in Bengaluru)

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

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