Natgas firms fall on rising output, high stockpiles

Tellurian

29/05/2024 18:36

** Shares of natural gas companies fall, as natgas futures
 NGc1  drop 5.9%
    ** U.S. natural gas futures fall on signs some drillers were
starting to pull more gas out of the ground and worries about
the tremendous oversupply of gas still in storage  NGA/ 
    ** Producers CNX Resources  CNX.N  and EQT  EQT.N  down 0.7%
and 1.4%, respectively
    ** LNG firms New Fortress Energy Inc  NFE.O  and Tellurian
 TELL.A  fall 2.6% and 14.4%, respectively
    ** ETFs United States Natural Gas Fund  UNG.P  and ProShares
Ultra Bloomberg Natural Gas  BOIL.P  down 5.4% and 10.8%,
respectively

 (Reporting by Roshia Sabu in Bengaluru)
 ((Roshia.Sabu@thomsonreuters.com))