Commodities
NG Futures Drop Below $3 as Mild Weather Trumps Tight Supply
Natural gas futures continued their downward trend on Thursday, falling below $3.00/MMBtu as mild autumn weather and soft seasonal demand took a toll on prices.
The November futures contract lost $3 after an in-line storage report failed to counter pressure from the current weather conditions.
According to the report, production fell sharply, but this was not enough to offset the impact of the mild temperatures that are limiting natural gas demand.