UPDATE 1-U.S. natgas futures down 3% on record output, mild weather forecasts
Also weighing on gas prices was a drop in demand from power outages due to storms and reduced liquefied natural gas (LNG) exports. Over 134,000 homes and businesses were still without power in Florida after Hurricane Ian hit on Sept. 28-29, reducing the amount of gas power generators need to burn to produce electricity. Gas demand was also reduced by outages at LNG export plants, including Berkshire Hathaway Energy's 0.8-billion cubic feet per day (bcfd) Cove Point in Maryland for about three weeks of planned work starting Oct. 1 and Freeport LNG's 2.0-bcfd plant in Texas for unpla...
Source: aol.com