Natural Gas futures broke below the $3 mark, falling 2.5% to trade near $2.95 and marking a two-week low. The downward pressure ends an eight-session streak above $3, effectively erasing the risk premium built up over the previous week. Mild shifting weather forecasts across the lower 48 states continue to curb demand, while domestic supply ramps up. Storage remains well above the 5-year average heading into the winter months. Meanwhile, WTI Crude Oil futures saw muted price action, holding steady near $93.50 on light volume.
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