Natural gas prices fell 0.96% on Wednesday as a decline in European benchmarks triggered long liquidation, overshadowing domestic demand signals and tight storage expectations.
Nat-gas prices slipped and settled lower as European gas prices retreated, sparking long liquidation despite hot US weather and a smaller-than-normal storage build.
Crude oil prices are noted to be sharply lower as Middle East supply disruption fears ease.
The article references a headline that UBS turned bearish on NuScale Power, but provides no underlying details or analysis.
US natural gas futures retreated from one-week highs on Wednesday, settling down 0.96% as falling European gas prices sparked a wave of long liquidation. Despite forecasts for above-average US temperatures and expectations of a smaller-than-normal storage build, the market remains pressured by broader supply trends and shifting geopolitical sentiment.
While hot weather typically boosts demand for electricity and cooling, the market experienced long liquidation driven by a sharp decline in European natural gas prices.