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US natural gas futures slid about 2% on June 25 as output rose slowly and demand forecasts for the next two weeks were lowered. Prices had fallen about 7% over the prior two weeks, while speculators raised net long positions to their highest since April 2022.
Rising output and softer near-term demand forecasts weigh on US gas prices, which lowers energy costs for ethanol and fertilizer production. The large speculative long position leaves prices vulnerable to further pullbacks.
brecorder.comReutersJun 25, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
