Dow Jones - Natural Gas Breaks Six Session Win Streak On Mixed Forecasts

DJ Natural Gas Breaks Six-Session Win Streak on Mixed Forecasts


   By Christian Berthelsen


  Natural gas prices fell Monday, ending a string of six straight trading sessions, as revised forecasts left investors
with a mixed picture for end-of-winter gas-fired heating demand.

  The market wavered between gains and losses for much of the day before ending down 0.2% at $1.8190 a million British
thermal units on the New York Mercantile Exchange. Natural gas futures have slumped more than 20% this year amid
surging production and weak demand amid a mild winter and little need for gas-fired heating.

  Forecasts Monday for the coming weeks were slightly cooler than previous outlooks, raising the prospect of some
late-season demand as winter fades and spring approaches on the calendar. Still, much of the U.S. could see
above-normal temperatures into late March.

  Though the short-term outlook has improved somewhat, the overall fundamentals in the market remain bearish, with
large and growing inventories. Speculators have been betting heavily against the market, according to data from the
Commodity Futures Trading Commission.

  "This market had difficulty following through in either direction today given a mix of short-term temperature views
that appeared to offer something for both the bulls and the bears," research consultancy Ritterbusch and Associates
said in a note.

  Total U.S. natural gas inventories now stand at nearly 2.5 trillion cubic feet, 58% above year-ago levels and 42%
above average for this time of year.

FUTURES         SETTLEMENT     NET CHANGE
Nymex April         $1.819        -0.3.c
Nymex May           $1.914        -0.1c
Nymex June          $2.024        +0.1c

CASH HUB                   RANGE              PREVIOUS SESSION
El Paso Perm          $1.5275-$1.5575           $1.455-$1.55
El Paso SJ            $1.51-$1.59               $1.45-$1.51
Henry Hub             $1.66-$1.71               $1.67-$1.775
Katy                  $1.72-$1.78               $1.72-$1.82
SoCal                 $1.55-$1.61               $1.50-$1.56
Tex East M3           $1.03-$1.19               $0.81-$0.88
Transco 65            $1.62-$1.69               $1.665-$1.7050
Transco Z6            $1.05-$1.1475             $0.83-$0.91
Waha                  $1.60-$1.64               $1.595-$1.66


  Write to Christian Berthelsen at christian.berthelsen@wsj.com


  (END) Dow Jones Newswires

  March 14, 2016 15:41 ET (19:41 GMT)

  Copyright (c) 2016 Dow Jones & Company, Inc.

031416 19:41 -- GMT
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