Commodities▼ Bearish
Natural Gas Slips as Cooling Demand Fails to Lift Prices
Front-month natural gas eased Tuesday as mild weather limited air conditioning use, with traders eyeing support near $2.50. The next catalyst: summer heat forecasts.
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Natural gas futures slipped Tuesday, extending recent weakness after unseasonably mild temperatures kept cooling demand below seasonal norms. The front-month contract hovered near $2.70, down 0.6%, after failing to hold above $2.75 earlier in the week.
With heating season months away and air conditioning use limited, the market lacks a near-term demand catalyst. The late-April selloff stalled at $2.50, which traders now watch as potential support. A break below that level could open a test of the $2.40 area, though market participants said a heat wave or supply disruption would be needed to shift the balance.