U.S. Natural Gas Futures On Tuesday Fell

U.S. natural gas futures on Tuesday fell for the first day in five on forecasts for less cold weather over the next two weeks and projected output gains from shale basins as traders discount the blizzard pummeling the Northeast.

The storm was causing whiteouts, wind gusts of up to 60 miles (96 km) per hour and power outages. It was expected to drop up to two feet (61 cm) of snow from central Pennsylvania to Maine, according to AccuWeather.

For the next two weeks, however, the U.S. weather model projected less cold than previously expected, though it forecast temperatures that would be slightly below normal.

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Suhani Verma

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