basta che le previsioni meteo rientrino e subito si ridimensiona... :-(
NEW YORK (Dow Jones)--Natural gas futures slid to their lowest levels in two weeks Friday as slightly warmer weather forecasts and bloated inventories pressured prices lower.
Natural gas for January delivery shed 16.5 cents, or 3.7%, to end at $4.255 a million British thermal units on the New York Mercantile Exchange, the lowest settlement price since Nov. 30. The benchmark contract has settled lower for three of the last four sessions, as colder-than-normal weather across much of the country wasn't enough to support gains above $4.50/MMBtu.
Natural gas futures typically rise in anticipation of winter's boost to gas-heating demand.
The fact that futures have retreated despite the colder-than-normal weather that has settled across much of the country may be a signal that prices have set their highs for the season, said Stephen Schork, president of energy advisory firm Schork Group.
"We're a week away from the winter solstice," Schork said. There is an "overall bearish sentiment in the market. I don't think anyone believes that the industry is going to cut back on production" enough to support prices, he added.
Strong gas production from North American shale formations sent U.S. inventories to record highs in November, and the supply overhang continues to pressure prices. Gas stockpiles as of Dec. 3 stood at 3.725 trillion cubic feet, the federal Energy Information Administration said, 9.8% higher than the five-year average. The excess supply is widely seen meeting the heating needs of even an unusually cold winter.
The EIA's weekly report is scheduled for release Thursday at 10:30 a.m. EST.
"We're probably going to get a triple-digit withdrawal on Thursday, but I think the market is going to want to see it before there's a change in the mindset toward supply," said Tom Saal, a senior vice president of energy trading at INTL Hencorp Futures.
Futures had climbed at the beginning of December as forecasts called for cold across much of the country, lifting heating demand expectations. But temperatures may moderate during the last days of the month in key heating markets.
Meteorologists with private forecaster MDA EarthSat see colder-than-normal temperatures continuing over the eastern half of the U.S. through most of next week, with a return to near-average temperatures in parts of the Upper Midwest and Northeast Dec. 24-28.
"The large consuming metropolitan regions such as New York and Chicago are likely to be returning to normal consumption trends by about this time next week and into the final week of the year," said Jim Ritterbusch, of energy advisory firm Ritterbusch and Associates, in a client note.
ma vaaaa fan c***..notte