MTECHTIPS;-U.S. natural gas futures decline with weather, supply in

MTECHTIPS;-U.S. natural gas futures decline with weather, supply in focus

MTECHTIPS- U.S. natural gas futures edged lower in early trade on Wednesday, as traders continued to monitor shifting weather forecasts to assess the outlook for early-spring demand and supply levels. U.S. natural gas for June delivery slipped around 1.0 cent, or about 0.3%, to $3.187 per million British thermal units by 9:10 AM ET (13:10 GMT). Prices of the heating fuel fell for the second consecutive session on Tuesday. A strong spring storm tracking through the southeastern U.S. with heavy showers and thunderstorms will push across the Great Lakes and Northeast this weekend into early next week to keep below normal temperatures in place. Overall, natural gas demand will be slightly stronger than normal well into next week, according to forecasters at WWW.MTECHTIPS.COM Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting outlooks on spring demand. Gas use typically hits a seasonal low with spring’s mild temperatures, before warmer weather increases demand for gas-fired electricity generation to power air conditioning. Nearly 50% of all U.S. households use gas for heating. Total natural gas in storage currently stands at 2.189 trillion cubic feet, according to the U.S. Energy Information Administration, 14.0% lower than levels at this time a year ago but 13.7% above the five-year average for this time of year

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