Natural Gas Futures Fall As Demand Pressures Weigh
New York Mercantile Exchange natural gas futures declined at midday on Friday as weak near-term weather demand overshadowed solid LNG activity.
Update (Oct 23, 19:12 UTC): November natural gas futures extended their sell-off through Friday as warmer weather forecasts pointed to sluggish heating demand and a potentially growing supply cushion.
Natural gas futures on the New York Mercantile Exchange faced downward pressure at midday on Friday, according to NGINaturalGas. Market participants heavily weighed weak near-term weather demand against otherwise solid liquefied natural gas activity.
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Market Pressures
According to the report, traders assigned more significance to soft weather-driven demand forecasts than to steady liquefied natural gas sector volumes, driving the midday slump in natural gas futures.
Key facts
- New York Mercantile Exchange natural gas futures floundered at midday on Friday
- Traders gave more weight to weak near-term weather demand than solid LNG activity
Source: naturalgasintel.com
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