NEW YORK: US natural gas futures eased to a one-week low on Thursday after news the US and Iran were nearing a temporary agreement to end the Iran war, and on a drop in flows to US liquefied natural gas export plants during the spring maintenance season.
Oil futures were down about 5 percent after dropping about 7 percent on Wednesday on the Iran war news, which put pressure on the entire energy complex.
Front-month gas futures for June delivery on the New York Mercantile Exchange fell 3.0 cents, or 1.1 percent, to USD2.70 per million British thermal units, putting the contract on track for its lowest close since April 29 for a second day in a row.
That price decline precedes a federal report expected to show energy firms pulled a near-normal 74 billion cubic feet of gas from storage during the week ended May 1.
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