MTECHTIPS;-Natural Gas Futures Slide Lower For Second Straight

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MTECHTIPS;-Natural Gas Futures Slide Lower For Second Straight Day

MTECHTIPS-Natural gas futures declined on Tuesday, extending losses from the previous session amid speculation the start of spring will bring warmer temperatures throughout the U.S. and cut into demand for the fuel. Spring usually sees the weakest demand for natural gas in the U.S, as the absence of extreme temperatures curbs demand for heating and air conditioning. Front-month natural gas futures sank 4.1 cents, or around 1.5%, to $2.652 per million British thermal units (btu) by 9:15 AM ET (1315 GMT). The commodity ended lower on Monday, after weather forecasts showed that temperatures won’t be as cold as previously expected. Market experts warned that futures are likely to remain vulnerable in the near-term as below-normal temperatures in April mean less than they do in January and February. Meanwhile, market participants looked ahead to this week’s storage data due on Thursday, which is expected to show a draw in a range between 8 and 20 billion cubic feet (bcf) in the week ended April 6. That compares with a decline of 29 bcf in the preceding week, an increase of 10 bcf a year earlier and a five-year average rise of 9 bcf