From Investing.com:
Natural gas futures fell on Monday after updated weather-forecasting models called for a break in a U.S. heat wave, which should curb demand for air conditioning.We had been betting on a larger power burn to get next week's injection report under 100 Bcf. now it looks like that may not happen. Just yesterday NOAA was giving odds on higher than average temp:
On the New York Mercantile Exchange, natural gas futures for delivery in August traded at $4.477 per million British thermal units during U.S. trading, down 1.66%. The commodity hit a session high of $4.592 and a low of $4.475.
The August contract settled down 1.11% on Friday to end at $4.552 per million British thermal units.
Natural gas futures were likely to find support at $4.364 per million British thermal units, the low from May 27, and resistance at $4.773, Wednesday's high.
Weather forecasts called for a break in a heat wave across the U.S. over the next five days, though expectations for a return of hotter weather in the Midwest and eastern U.S. next week prevented prices from falling too far....MORE
Here's today's action, via FinViz:
