Home / TIPS / MTECHTIPS:-Natural gas futures – weekly outlook: October 19 -23

MTECHTIPS:-Natural gas futures – weekly outlook: October 19 -23

MTECHTIPS:-Natural gas futures – weekly outlook: October 19 -23

Natural gas futunatural gas for delivery in November hit an intraday low of $2.410 per million British thermal units, before ending the day at $2.430, down 2.3 cents, or 0.94%. A day earlier, futures tumbled 6.5 cents, or 2.58%, after weekly storage data showed that U.S. natural gas supplies rose more than expected last week. For the week, natural gas prices lost 9.0 cents, or 2.88%, as healthy stockpiles and warm weather weighed. A brief burst of cold air across the eastern U.S. will give way to unseasonably warm readings early next week, dampening demand expectations for the fuel. Bearish speculators are betting on the warm weather reducing early-winter demand for the heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption. Data released Thursday showed that U.S. natural gas supplies rose more than expected last week, underlining concerns over weak demand. res fell towards the lowest level in more than three years on Friday, as demand for the fuel was likely to remain limited after meteorologists predicted mild weather in much of the U.S. in the weeks ahead. On the New York Mercantile Exchange, 

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