US Natgas Futures Fall on Bearish Fundamentals

摘要

The US September natural gas contract entered the weekend under significant $2.70 support, which had held strong against bearish fundamentals all week. Friday's tumble took back the previous two - session 5.1￠ gain and then some. The recent heat, which has kept a seemingly solid floor under the prompt - month contract, has begun to moderate. A succession of triple - digit highs in Texas gave way late last week as a shift in the weather pattern brought torrential rain and moderating temperatures to much of the Lone Star State. Meanwhile, a late - week cool front was putting an end to heavy cooling loads in the Northeast.