Lingering Warmth in U.S. East Sends Natural Gas to Six-Week Low
- No support for gas prices seen in 10-day outlook, analyst says
- Shares of gas pipeline operators drop amid commodities decline
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When Christmas is around the corner and there’s no frigid weather in sight for the U.S. East, it’s more bad news for natural gas bulls.
Gas dropped to the lowest price in almost six weeks as above-normal temperatures curtailed demand for the heating fuel, leaving stockpiles near an all-time high. Futures have slipped 28 percent this year, heading for a second straight annual decline, as shale production from the Northeast sends U.S. output toward a record for a fifth consecutive year.