forecasts
Natural Gas Price Fundamental Daily Forecast – Cold European Model Outlook Fueling Price SurgeLook for a bullish tone into the close on a sustained move over $2.794 with the Fibonacci level at $2.918 the next likely target.
Feb 01, 2021 05:54 PM GMT
Natural gas futures are attempting to breakout to the upside at the mid-session on Monday after a bullish shift in the forecasts over the weekend increased the chances of upcoming cold hitting high demand areas in the United States.
At 17:29 GMT, March natural gas futures are trading $2.827, up $0.263 or +10.26%.
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Weather Models Shift toward Cold
Over the weekend weather models increased demand expectations by showing upcoming cold temperatures traveling further east, Wood Mackenzie analyst Dan Spangler said in a note to clients early Monday.
forecasts
Natural Gas Price Fundamental Daily Forecast -10-15 Day Forecast Calls for Steadily Freezing ConditionsNGI is reporting that Bespoke anticipates EIA to report to a draw of 140 Bcf for the week-ended January 22.
Jan 28, 2021 11:57 AM GMT
Natural gas futures are trading lower shortly before the regular session opening at 13:00 GMT and the release of the government’s weekly storage report at 15:30 GMT. In the meantime, bullish traders are hoping for the late season winter weather to intensify and for demand for U.S. liquefied natural gas (LNG) to continue to rise.
At 11:28 GMT, March natural gas futures are trading $2.642, down $0.060 or -2.22%.
forecasts
Natural Gas Price Fundamental Daily Forecast – Weather Driven; Strengthens Over $2.678, Weakens Under $2.630NatGasWeather called it “a messy” pattern this week “as numerous weather systems track across the country with rain and snow.
Jan 26, 2021 01:58 PM GMT
Natural gas futures are edging higher for a second session on Tuesday on expectations of a jump in heating demand over the near-term and forecasts calling for colder temperatures into the weekend and possibly the first week of February.
Nonetheless, bullish speculators are still approaching the long side of the market with caution. Analysts at The Schork Report said, “The fact traders are unwilling to pay a premium to own gas for the final two delivery months of winter is as fundamentally bearish as it gets,” given that gas demand is typically the strongest in winter.
The natural gas storage report from the EIA for the week ending December 11th indicated that the quantity of natural gas held in underground storage in the US had decreased by 122 billion cubic feet to 3,726 billion cubic feet by the end of the week, which left our gas supplies 284 billion cubic feet, or still 8.3% higher than the 3,442 billion cubic feet that were in storage on December 11th of last year, and 243 billion cubic feet, or 7.0% above the five-year average of 3,483 billion cubic feet of natural gas that have been in storage as of the 11th of December in recent years..the 122 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast from an S&P Global Platts survey of analysts who had expected a 127 billion cubic foot withdrawal, but was higher than the average withdrawal of 105 billion cubic feet of natural gas that have typically been pulled out of natural gas storage during the same week over the past 5 years, and the