Commodities
Natural Gas Futures Slide Amid Strong Production and Waning Weather Demand
Natural gas futures on the New York Mercantile Exchange (Nymex) declined by 1.9 cents to $2.815 per million British thermal units (MMBtu) as of 11:45 a.m. ET on Friday.
The downturn was attributed to seasonally strong production readings and forecasts indicating waning weather-related demand.
In recent days, weather forecasts have begun leaning in favor of cooler temperatures, which would typically reduce heating needs and subsequently lower natural gas consumption.