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BUZZ-Natgas companies fall on lower demand forecasts

Reuters
May 14
BUZZ-Natgas companies fall on lower demand forecasts

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

** U.S. natgas futures NGc1 down 3.4% at $3.52 per million British thermal units, putting the contract on track for its lowest close since May 6

** Natural gas prices fell over 3% to a one-week low on a smaller-than-expected output decline this week and forecasts for lower-than-expected demand next week, due primarily to a reduction in gas flows to LNG export plants during the spring maintenance season

** Shares of natgas companies: NextDecade Corp NEXT.O down 3.2%, New Fortress Energy NFE.O falls 4.4% and Sempra SRE.N down 2.1%

** ETFs — United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P fall 3.3% and 5.7%, respectively

(Reporting by Pooja Menon in Bengaluru)

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

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