Upper Midwest gas prices continue to weaken amid bearish fundamentals

摘要

Upper Midwest natural gas prices continued to slide Thursday amidbearish sentiment due to flattening demand.Nipsco fell 14 cents on the day to $2.26/MMBtu. Michcon fell 10cents on the day to $2.29/MMBtu. This is the third consecutive daythat both of these locations have fallen.Total demand in the Upper Midwest and Midcontinent region is setto fall to 12.3 Bcf Friday, down about 200 MMcf from the seven-dayprior average of 12.5 Bcf/d, according to S&P Global Platts Analytics.Demand is projected to hover around this level, averaging about 12.3Bcf/d over the next two weeks, likely weighing down prices.