Commodities
Natural Gas Futures Slide Below $3 Amid Mild Weather
Natural Gas Futures Lose Ground Amid Mild Weather and Soft Demand
The price of natural gas futures declined by $3 Thursday, following an in-line storage report that failed to counter pressure from mild autumn weather and soft seasonal demand. The November contract fell below the $3.00/MMBtu mark.
The production of natural gas fell sharply, while storage levels met expectations. However, the mild weather limited demand for the fuel, contributing to the price decline. At a Glance: Storage build meets expectations; Production falls sharply; Mild weather limits demand.