Natural Gas Futures Slip on Warm Weather Forecasts

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.

Click here to read the full report from The Wall Street Journal.