0923 ET – Natural gas futures keep falling under the weight of mild weather forecasts combined with higher-than-normal US supply. The contract for December delivery weakens 3.5% to $3.152/mmBtu, after losing more than 7% Monday. There will be no inventory report this week due to a system update, but “bullish data would have been reported,” due to last week’s cold shot, Ritterbusch says in a note. But the longer-term trend points to volatile prices. “Besides the unusually mild temperature patterns, the market is also forced to respond to strong production that is at or near record levels,” the advisory firm says. ([email protected]; @ptrevisani)
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