Institution: US natural gas futures probe $3 level

The near-month contract price for natural gas futures in the United States is testing to break below $3, with mild weather this week overshadowing the expected cold front on the East Coast over the weekend and early next week. Andy Huenefeld of Pinebrook Energy Advisors stated in a report, "It is expected that the region will return to unusually warm weather around the end of the month, making any cold spell short-lived." He also said, "So far, the market is not anticipating any incremental demand from these short-lived weather pattern changes." The price of natural gas for March delivery fell by 1.7% to $2.978 per million British thermal units.