Natural Gas Lower as Trading Centers Around $3/mmBtu
Dow Jones
Yesterday
0953 ET - Natural gas futures are down 0.3% to $3.017 per mmBtu, with trading centered around the $3 mark. Weather across the country remains the main factor weighing on natural gas prices. "Cooling rains in Texas may create more physical market weakness, and Week 3 warming is lowering projected heating demand," says EBW Analytics in a note. The upcoming storage report from the EIA is projected to show an injection of 64 bcf, according to a survey of analysts by WSJ. A surprise in either direction may spark a stronger move for natural gas, says EBW Analytics.
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