Natural gas prices dropped due to forecasts of warmer than normal weather.
Natural gas faced a decline of -3.33%, settling at 171.3, driven by forecasts indicating warmer-than-normal weather persisting through mid-February.
The prolonged warmer conditions are expected to keep heating demand low, despite bullish drops in output this week and forecasts for increased demand next week. The ongoing outage of a liquefaction train at Freeport LNG’s export plant in Texas also contributed to the bearish sentiment.
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