Natural Gas Dropped Amid Forecasts For Milder Weather And Lower Heating Demand.
Natural gas faced a significant decline of -3.67%, settling at 141.7, driven by forecasts indicating milder weather and lower heating demand over the next two weeks. The market response to the drop in U.S. output over the past month, approximately 6%, indicated that major energy companies such as EQT and Chesapeake Energy were implementing production cuts in response to the prevailing low gas prices. EQT, currently the largest U.S. gas producer, is set to become the country’s largest following its merger with Southwestern Energy.
