Supply Weighs on Natural Gas Prices Amid Strong Demand
Natural gas prices weakened intraday on Wednesday due to strong supply countering seasonal demand strength. According to Natural Gas Intelligence, New York Mercantile Exchange natural gas futures struggled with bearish headwinds at midday as traders weighed solid near-term demand against forecasts for milder fall weather ahead and stout supply.
The October natural gas contract fell 5.6 cents to $2.860/MMBtu around 11:45 a.m. ET, with Henry Hub spot prices also under pressure. In contrast, Waha prices rebounded.