Natural Gas Prices Fall as Forecasts Predict Milder Weather, Lower Demand Ahead
Natural gas prices dropped on Tuesday, extending recent losses as forecasts predicted milder weather and lower demand.
Weather Forecasts Weigh on Natural Gas Demand
Milder weather forecasts reduced demand for heating, leading to a decline in natural gas prices.
Inventory Levels Remain High
US natural gas inventory levels remain above the five-year average, adding to bearish pressure.
Key Market Data:
- Natural gas futures fell 2.5% to $2.455 per million British thermal units (mmBtu)
- US natural gas inventory levels rose 82 billion cubic feet
- Weather forecasts predict milder temperatures across key regions
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Additional Sections:
Market Outlook:
- Milder weather forecasts and high inventory levels signal a bearish market outlook for natural gas.
- Traders should consider short-term trading strategies.
Trading Strategy:
- Consider selling natural gas futures on rallies.
- Monitor gold and crude oil prices for potential buy opportunities.