U.S. Natural Gas Futures Fall Awaiting Hotter Weather
1007 ET – U.S. natural gas futures are down for a third straight session as low weather-driven demand looks set to last into the first days of June while LNG feedgas flows ease and production edges up. The EIA this week reported a fifth straight triple-digit increase in inventories, and further large builds are expected before higher temperatures set in to lift demand. 'As the market sees this inflection point begin to arrive-likely alongside hotter weather forecasts-Nymex gas futures may mark a bottom and pivot higher,' Eli Rubin of EBW Analytics says in a note. Nymex natural gas is down 0.8% at $3.493/mmBtu. (anthony.harrup@wsj.com)
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