Natural Gas Prices Surge on Reduced Output and Cooler Weather Outlook
Natural gas prices jumped on Friday, driven by lower output and forecasts for cooler weather.
Lower Output Boosts Natural Gas Prices
Reduced natural gas production fueled the price rally.
Cooler Weather Forecasts Increase Demand
Forecasted temperature drops increased heating demand.
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Key Market Data:
- Natural gas futures rose 3.5% to $2.455 per million British thermal units (mmBtu)
- US natural gas output fell 1.2% to 98.5 billion cubic feet per day
- Weather forecasts predict cooler temperatures across key regions
Market Outlook:
The current market sentiment is bullish for natural gas, with expectations of further price increases.
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