MTECHTIPS;-Natural Gas Futures Pull Back From 2-Month High to Start

MTECHTIPS;-Natural Gas Futures Pull Back From 2-Month High to Start the Week

Natural gas futures edged lower to start the week on Monday, pulling back from a two-month high as market players monitored winter weather forecasts to gauge demand for the fuel. Below freezing temperatures will continue to linger across most parts of the Northeast through Jan. 20, with light snow expected throughout the region. However, Northeast temperatures were expected to return to seasonal levels from Jan. 21-to-28, with mild conditions dominating during the period, according to updated weather forecasting models. Front-month U.S. natural gas futures shed 8.0 cents, or around 2.5%, to $3.120 per million British thermal units (btu) by 8:45 AM ET (1345GMT). It touched its best level since early Nov. 15 at $3.224 in the last session.It soared nearly 15% last week, after data showed the largest withdrawal on record of U.S. supplies in storage as freezing temperatures boosted heating demand. Natural gas prices typically rise during the winter months as colder weather sparks indoor-heating demand. The heating season from November through March is the peak demand period for U.S. gas consumption

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