Natural gas slid on projections of cooler weather over the next two weeks.
Natural gas prices experienced a decline of -2.22% yesterday, settling at 211.4 due to forecasts of cooling weather over the next two weeks. However, several factors tempered these losses. Forecasts indicated higher gas demand over the same period, a decrease in daily gas output, and increased gas flow to liquefied natural gas (LNG) export facilities. Daily, gas output was expected to drop by approximately 2.7 billion cubic feet per day (bcfd), hitting a preliminary five-month low of 99.6 bcfd. This marked the most significant one-day output drop since mid-June, though it’s important to note that preliminary data often undergo revisions later in the day.
