CNBC reported that the majority of spot natural gas prices continued to decline for the third day in a row as a result of mild weather. Market players are hoping that upcoming nuclear power plant outages will stoke demand.
As quoted in the market news:
Gas for Wednesday delivery at the nation’s benchmark supply point Henry Hub in Louisiana slid 9 cents on average to $2.74 per million British thermal units, after slipping 11 cents on Monday for gas delivered on Tuesday.
On NYMEX, the front-month contract slid 9.2 cents, or more than 3 percent, to settle at $2.773. The front month has fallen nearly 10 percent in the past four sessions.