MTECHTIPS:-U.S. natural gas starts the week on back foot in thin

MTECHTIPS:-U.S. natural gas starts the week on back foot in thin Labor Day trade

MTECHTIPS-U.S. natural gas futures started the week on the back foot on Monday, as traders began to react to the reality that higher summer demand for the commodity is coming to an end. Demand for natural gas tends to rise in the summer months as warmer temperatures increase the need for gas-fired electricity to power air conditioning. But with autumn due to start on September 22, power burns to feed air conditioning demand have probably peaked for now, market analysts said. U.S. natural gas for October delivery was at $3.039 per million British thermal units by 8:25 AM ET (1225 GMT), down 3.1 cents, or around 1%. It rose about 6.2% last week as energy markets weighed what the impact of storm system Harvey will be on supply and demand. Trade volumes were expected to remain light on Monday, with many investors in the U.S. away for the Labor Day holiday. Trading in natural gas ends at 1:00 PM ET (1700 GMT), while U.S. stock markets are closed for trading all day. Summer heat has waned and cooler temperatures beckon with the approach of autumn, when gas demand typically slackens and prices fall
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