MTECHTIPS:-Natural Gas Futures Slide to 2-Month Lows Amid Lull

MTECHTIPS:-Natural Gas Futures Slide to 2-Month Lows Amid Lull in Demand

MTECHTIPS-U.S. natural gas futures started the week on a downbeat note on Monday, with prices sliding to their lowest level in around two months, as traders reacted to the reality that higher demand for the commodity was coming to an end. U.S. natural gas for November delivery fell to $2.835 per million British thermal units at one point, its lowest since Aug. 9, before crawling back to $2.867 by 8:35 AM ET (1235 GMT), little changed on the day. Futures saw a drop of nearly 5% last week as weather forecasting models predicted mild temperatures that should limit demand for the heating fuel in the coming days. The eastern part of the U.S. will warm back into the 70 s and 80 s Fahrenheit through Oct. 14, as high pressure returns. The West Coast will be mild to warm, while very warm to hot over the southern U.S., according to Bearish speculators are betting on the warm weather reducing early-winter demand for the heating fuel. Gas futures often reach a seasonal low in October, when mild weather reduces demand, before recovering in the winter, when heating-fuel use peaks. Total natural gas in storage currently stands at 3.508 trillion cubic feet, according to the U.S. Energy Information Administration, around 4.3% lower than levels at this time a year ago and 0.2% below the five-year average for this time of year

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