BUZZ-Natgas companies down on rising output, milder weather forecast

Reuters
11 Mar
BUZZ-Natgas companies down on rising output, milder weather forecast

** Shares of U.S. natural gas companies fall, tracking natgas futures NGA/

** U.S. natgas futures NGc1 down ~2% at $4.42 per million British thermal units (mmBtu), after rising to their highest level since December 2022 on Monday

** Natural gas prices were weighed down by a rise in output and forecasts for milder weather. These factors offset a higher demand outlook for next week and record flows to liquefied natural gas $(LNG)$ export facilities

** Natgas companies CNX Resources CNX.N down 1.3%, Cheniere Energy LNG.N falls ~1% and New Fortress Energy NFE.O slips ~2%

** ETFs - United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P down 1.3% and 2.6%, respectively

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))

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