U.S. Natural Gas Prices Plummet On Rail Deal, Storage Build ...Middle East

U.S. natural gas futures fell 8% on Thursday as the rail union reached a temporary labor agreement with its workers. Henry Hub natural gas futures (NGV2) fell $0.728 MBtu (-7.99%) to $8.397 on the railway deal, without which would have increased the demand for natural gas in an already tight market. A rail industry disruption would have disrupted the flow of coal. A larger than anticipated storage build for natural gas also weighed on prices, which were trading near record highs due to the tight market. On Thursday, the Energy Information Administration’s…

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