U.S. natural gas prices decline

Natural gas prices on the New York Mercantile Exchange (NYMEX) fell as ample inventories and steady production weighed on the market.

U.S. natural gas futures dropped about 1.8% to around $3.19 per million British thermal units (mmBtu). Analysts said comfortable storage levels, which remain above the five-year average, continued to pressure prices. 

Market participants said hotter weather and stronger summer power demand could provide support to prices, although supply conditions remain relatively comfortable. 

N.Tebrizli