US Natural Gas Erases Gains as Traders Eye Forecasts, Storage

US natural gas futures ended down for the fourth consecutive session, erasing earlier gains as traders weighed forecasts for mild weather and a growing surplus of domestic stockpiles relative to the five-year average.

The US gas contract was up in overnight Asian trading and most of the US morning on the heels of rising oil prices as renewed risk to energy flows out of the Persian Gulf triggered financial inflows into baskets of energy products. But natural gas “seems to have completely decoupled from the energy complex volatility as fundamentals hold here,” said Darrell Fletcher, managing director for commodities at Bannockburn Capital Markets.