Natural Gas Futures Struggle with Strong Supply

Natural gas prices struggled to gain momentum in early futures market action on Tuesday morning as weather forecasts and liquefied natural gas (LNG) demand appeared bullish, but were countered by a strong supply.

According to Natural Gas Intelligence, the prompt-month natural gas futures were unable to sustain their gains despite favorable conditions. Weather forecasts indicated heat would remain robust this week, while LNG activity was ramping up into September.

However, production and storage levels remained healthy, serving as a counterweight to the bullish sentiment.