1522 ET - U.S. natural gas futures lose ground with high production and comfortable storage levels weighing against strong weather-driven demand and recovering LNG feedgas flows. "Lingering heat across Texas and the Southeast should support cooling demand through the remainder of August, while LNG exports are positioned to rise as maintenance concludes and new capacity ramps," Andy Huenefeld of Pinebrook Energy Advisors says in a note. But with production increasing as the shoulder-season approaches, "competing forces continue to favor a broadly balanced market rather than a sustained move in either direction," he adds. Nymex natural gas settles down 1.6% at $2.690/mmBtu.
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