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Natural Gas News: Can High Summer Demand Offset Oversupply Concerns?
Last week, U.S. natural gas prices fell sharply, impacted by increased production, fluctuating demand forecasts, and substantial inventory levels. At times, the selling pressure was relentless as traders continued to assess the potential impacts of shifts in weather and production. During the week-ending May 31, Natural Gas settled at $2.587, down $0.168 or -6.10%. Supply Increases and Oversupply Concerns U.S. natural gas production ramped up as summer approached, causing downward pressure on prices. Analysts at Tudor Pickering Holt & Co. highlighted that producers were gearing up for higher summer demand, ... (full story)