-- US natural gas futures were down on Tuesday, despite near-term weather forecasts turning bullish, following weeks of above-normal temperature forecasts.
The front-month Henry Hub contract and the continuous futures both fell 0.72% to $2.60 per million British thermal units.
This comes as weather forecasts expect only a third of the country, primarily the south and southeastern regions, to experience above-normal temperatures, while the north and northwest are expected to see below normal temperatures, from April 21 to April 27, according to the National Weather Service.
Meanwhile, US President Donald Trump said that Iran had reached out to him seeking a deal, amid the ongoing naval blockade against the country.
US and Iranian negotiators are expected to resume peace talks in Islamabad this week, following the failure of the first round, according to a Reuters report citing Pakistani and Iranian officials familiar with the matter.
Domestic natural gas output remained flat compared to the prior week, at 107.3 Bcf per day, while demand dropped from 90 Bcf per day to 75 Bcf per day, which is further weighing on prices, according to NRG Energy.