The Wall Street Journal reported that forecasts for warm weather throughout the United States brought natural gas futures down.
As quoted in the market news:
Natural gas for November delivery fell 3.3 cents, or 0.9%, to recently trade at $3.371 a million British thermal units on the New York Mercantile Exchange.
Despite Tuesday’s declines, natural-gas futures continue to hold close to $3.40/MMBtu after a surge above $3.50/MMBtu last week. U.S. storage inventories stand at 8.3% above the five-year average for this time of year, well below gas-storage levels that ended March roughly 60% above the five-year average for that time of year.