Natural Gas News – December 12, 2023
Natural Gas News – December 12, 2023
Natural Gas Prices Forecast: Futures Dip
US natural gas futures have stabilized on Tuesday, with traders closely analyzing the latest weather forecasts suggesting much warmer-than-normal temperatures in the upcoming days. According to NatGasWeather, the next 15 days are expected to bring exceptionally mild weather across the US, leading to significantly reduced demand for natural gas. Monday saw a sharp decline in natural gas futures, primarily driven by updated weather forecasts
indicating milder temperatures. The shift from earlier predictions of a colder winter, which had stoked fears of supply shortages, to now milder conditions, has lessened the demand for heating, resulting in a sell-off in the market. The natural gas market is currently navigating through a phase characterized by high inventory levels due to a mild
previous winter and a consistent… For more info go to https://shorturl.at/gKMO7
Natural Gas Drops 10% With COP28 Agreement
Natural Gas (XNG/USD) prices are accelerating their decline on Monday with headlines that a COP28 draft agreement is around the corner. The fossil fuels are set to be reduced, instead of being phased out, after oppositions from oil and gas-producing countries under the lead of Saudi Arabia. It is the first time in history that a country that is organizing the COP-gathering, is asking for a less severe agreement in terms of climate control and reduction of usage for fossil fuels. Meanwhile, the US Dollar (USD) is strengthening this Monday with one of its counterparts, the Japanese Yen, weakening again. Its central bank, the Bank of Japan, issued a statement which contradicts earlier comments which drove the Japanese Yen higher against the US Dollar and triggered substantial down moves in t… For more info go to https://shorturl.at/fqRU4
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