Natural Gas Futures Drop Amid Warmer Forecasts

January natural gas futures on NYMEX plummeted 3.77% on Wednesday, erasing some of Tuesdays gains, as warmer East Coast forecasts eased demand worries. US production remains high, with output near record levels, while demand slipped. Inventory draws were smaller than expected, but stocks remain ample. Active gas rigs held steady, and electricity demand offered some support. European storage is below average, but US supplies point to softer prices heading into the holidays.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.