Natural gas fell for a second day in New York as milder weather heralds the end of the peak heating demand season.
Gas slid as much as 0.5 percent. Forecasters including Commodity Weather Group LLC said a shot of cold air across the East next week will give way to milder readings from March 28 through April 2. A government report tomorrow will show a stockpile decline that’s a third the size of the previous report, according to analyst estimates compiled by Bloomberg.
“We are going to have a couple of days where we are going to be above average for this time of the years,” said Bob Yawger, director of the futures division at Mizuho Securities USA Inc. in New York. “We are slowly but steadily getting close to the injection season.”
Natural gas for April delivery fell 1.9 cents, or 0.4 percent, to $4.437 per million British thermal units at 9:23 a.m. on the New York Mercantile Exchange. Volume for all futures traded was 47 percent below the 100-day average. Gas has climbed 4.9 percent this year.
To contact the reporter on this story: Naureen S. Malik in New York at email@example.com