Natural Gas Prices Dip With Arrival Of Fall In Northern Hemisphere
Investing.com – Natural gas prices fell on Friday as investors bet the arrival of fall in the northern hemisphere will bring cooler temperatures and curb demand for the commodity at the nation’s thermal power plants.
On the New York Mercantile Exchange, natural gas futures for delivery in October traded at USD3.688 per million British thermal units during U.S. trading, down 0.87%.
The October contract settled up 0.19% at USD3.720 per million British thermal units on Thursday.
The commodity hit a session low of USD3.658 and a high of USD3.715.
Fall will arrive on Sunday, and expectations for permanent cooler weather patterns sent prices dipping on Friday.
Demand for natural gas tends to wane at the country’s thermal power plants as temperatures fall, as homes and businesses throttle back on their air conditioners.
Colder temperatures typical of winter hike demand for the commodity as demand for heating rises.
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