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Natural Gas Drags Down Energy Sector
Natural Gas Dec 2023 futures decline as mild U.S. temperatures impact natural gas funds, resulting in a weekly loss and year-to-date decrease.
Natural Gas Dec 2023 futures traded below $2.87/MMBtu, down 3.21% over the week, as the outlook for temperatures in the U.S. remains mild. This downturn comes despite the Energy Information Administration (EIA) reporting an unexpected decrease in inventories for the week ended November 17.
Natural gas funds collectively lost 4.19% through the week, bringing year-to-date performance to -57.57%.
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