U.S. Natural Gas Futures Slip Ahead of Storage Data
0911 ET – U.S. natural gas futures are lower and struggling for traction heading into the tail end of the summer. 'Traders are grappling with the reality that power demand lacks the same punch as last season,' Jack Weixel of East Daley Analytics says in a note. 'The summer so far has passed with a whimper, in contrast to the record generation demand in the 2024 season.' Reasons for lower power-sector demand this year include higher gas prices, cooler temperatures and a greater share of renewable generation, he says. 'Despite the headwinds, this season's power burn should still eclipse summer 2023 and go down as the second largest in history.' Nymex natural gas is down 0.5% at $2.752/mmBtu. (anthony.harrup@wsj.com)
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