U.S. Natural Gas Tumbles on Bearish Winter Weather Outlook
- European gas drops as U.S. LNG makes way across Atlantic
- Trading on gas market thins heading into U.S. holiday weekend
This article is for subscribers only.
U.S. natural gas futures plunged to the lowest since July as the weather forecast for the new year shifted milder and European gas prices slid from record-high levels.
Futures fell 6.2% on the New York Mercantile Exchange Thursday, the most since early December. Unseasonably high temperatures are expected on the East Coast and southern U.S. through next week, dampening demand for the heating and power-plant fuel. Trading has meanwhile thinned heading into the U.S. holiday weekend, raising the likelihood of sudden swings.