(Before It's News)
MTECHTIPS:-Natural gas prices decline as 2-session rally comes to an end
U.S. natural gas futures fell for the first time in three sessions on Tuesday, as traders sold contracts to lock in gains from a recent rally. Natural gas for delivery in March on the New York Mercantile Exchange dipped 1.7 cents, or 0.77%, to trade at $2.125 per million British thermal units by 15:30 GMT, or 10:30AM ET. A day earlier, futures surged 7.7 cents, or 3.73%. Natural gas prices gained more than 8% over the past two sessions as updated weather forecasting models pointed to seasonably cold weather through the next two weeks, lifting near-term demand expectations for the heating fuel. Forecasts originally called for mild winter weather during the period, prompting traders to close out bets on lower prices. Bullish speculators are betting on the cold weather to increase winter demand for the heating fuel. The heating season from November through March is the peak demand period for U.S. gas consumption.
WWW.MTECHTIPS.COM
07489294118-119
Register
Newsletter
If you really want to ban this commenter, please write down the reason:
