Canadian natural gas dropped, following the U.S. market lower on mild weather and after prices failed to break through a technical price level.
Natural gas futures fell the most in 19 months, following declines in commodity markets, on a bigger- than-forecast U.S. inventories gain and concern that economic growth will ease.
Canadian natural gas prices rose as forecasts of warmer weather in the U.S. Midwest and Northeast signaled increased air conditioner use and demand for the fuel from power plants.
Canadian natural gas for next day delivery fell to the lowest level in more than six weeks amid forecasts of warmer-than-normal weather in U.S. consuming regions, reducing demand for exports from Canada.
Canadian natural gas declined on forecasts for normal U.S. East Coast weather next week that may curb demand for the power-plant fuel.
Canadian natural gas rose as U.S. forecasters predicted hotter weather, signaling more demand for fuel to run air conditioners.
Canadian natural gas fell as mild weather eased demand for the power plant fuel to run air conditioners and as storage increased in preparation for winter heating requirements.
"We've gone so far so quickly in the last few weeks."
- Peter Linder on Jul 25, 2012