BUZZ-US natgas companies fall on oversupply concerns
Shares of U.S. natural gas companies fell due to oversupply concerns, with natural gas futures down 2.1% at $4.8 per million BTU. Record output, ample storage, and lower global prices, influenced by Ukraine peace talks, pressured the market. Notable declines include New Fortress Energy down 6.1%, Venture Global 1.9%, EQT Corp 2.3%, and Expand Energy 2%. ETFs like United States Natural Gas Fund and ProShares Ultra Bloomberg Natural Gas also saw declines.
Shares of U.S. natural gas companies down, tracking a fall in natgas futures (NGA/)
U.S. natural gas futures (NGc1) down 2.1% at $4.8 per million British thermal unit
Natural gas prices slip as supply concerns pressured the market, overshadowing earlier gains from forecasts for colder weather and stronger demand
Prices dipped due to record output, ample amounts of gas in storage and lower gas prices around the world due mostly to the Ukraine peace talks
Shares of natgas companies: New Fortress Energy (NFE.O) down 6.1%, Venture Global (VG.N) fall 1.9%, EQT Corp (EQT.N) slips 2.3% and Expand Energy (EXE.O) slips 2%
ETF United States Natural Gas Fund (UNG.P) down 1.7% and ProShares Ultra Bloomberg Natural Gas (BOIL.P) slips 3.6%
