Reported 2 days ago
Natural gas prices experienced a decline as US production continues to rise and inventories exceed normal levels. On August 1, September Nymex natural gas closed down due to increased output and higher gas inventories, which are currently 6.7% above the five-year seasonal average. Predictions of hotter weather boosted initial demand expectations, but the overall outlook remains muted given the increasing production and a recorded rise in the number of active drilling rigs.
Source: YAHOO