Natgas companies down on rising output, milder weather forecast

Shares of U.S. natural gas companies fall, tracking natgas futures NGA/

U.S. natgas futures NGc1 down ~2% at $4.42 per million British thermal units (mmBtu), after rising to their highest level since December 2022 on Monday

Natural gas prices were weighed down by a rise in output and forecasts for milder weather. These factors offset a higher demand outlook for next week and record flows to liquefied natural gas (LNG) export facilities

Natgas companies CNX Resources CNX.N down 1.3%, Cheniere Energy LNG.N falls ~1% and New Fortress Energy NFE.O slips ~2%

ETFs - United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P down 1.3% and 2.6%, respectively