Natural Gas News Update By Ripples Advisory

by - 5:49 pm

U.S. natural gas futures on Monday fell over 3 % on weather forecasts calling for a little less heat over the next two weeks despite expect ations that power generators will keep using record amounts of fuel during that time to meet what will still be higher - than - normal air conditioning demand.

 

Traders said that due to coal's lower efficiency and higher environmental and transport costs, most generators do not think about switching from gas until the premium exceeds $1. Spot prices, however, remained relatively low despite weeks of smaller-than-usual storage injections. 

 

The amount of gas in inventory remains at all-time highs for this time of year after a warm winter, pressuring producers to cut output and encouraging power generators to keep record amounts of the fuel.Analysts forecast injections would remain small for the next several weeks.

 

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