Rare Summer Withdrawal Fails to Push US Sept. Gas Futures Higher

摘要

US September natural gas futures headed into the weekend continuing Thursday's decline, falling 2.2% despite bullish short-term weather forecasts. The possibility of a storage withdrawal interrupting an already anemic inventory refill pushed the September contract 10.6c higher on Wednesday. However, when the first summertime withdrawal in 10 years and only the third on record materialized Thursday, the contract slipped a half penny and kept falling on Friday. The contract ended the week in the upper $2.70s per million Btu—a weekly loss of 3.6%.