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Natural Gas Slid On Forecasts For Milder Weather And Lower Heating Demand.

Natural gas faced a decline of -3.03%, settling at 147.1, driven by forecasts of milder weather and reduced heating demand over the next two weeks. The market sentiment was further impacted by lower gas flow to liquefied natural gas (LNG) export plants, particularly due to ongoing outages at Freeport LNG’s Texas facility. Despite the recent price drop, speculators reduced their net short positions on the New York Mercantile and Intercontinental Exchanges for the second consecutive week, reaching their lowest level since late January.