Natural Gas News – April 30, 2024
Natural Gas News – April 30, 2024
Natural Gas News: Futures Rally Amid LNG Rebound
Natural gas prices (NG=F) are down nearly 40% year to date amid a glut in supply and a milder-than-expected winter. But analysts see an upside for the commodity going into the end of the year — in part due to growing AI electricity demand. JPMorgan’s Natasha Kaneva writes natural gas is poised to be the No. 1 performer among commodities this year, ahead of gold (CL=G). “Although we still very much like gold as a structural multi-year bullish story with an updated price target of $2,600/oz, US Henry Hub natural gas has moved to the top of our list. We believe no other commodity can match its return potential this year,” wrote Kaneva and a team of researchers. Louisiana’s Henry Hub is considered the US benchmark since it’s the largest trading point for natural gas in the country. Part of the bullishness stems from… For more info go to https://tinyurl.com/5429yw24
Gas Prices Are Falling Why These Analysts Are Bullish
U.S. natural gas futures faced a slight decline on Wednesday, following an unsuccessful attempt to breach the 50-day moving average during the previous session. This technical indicator has been a key resistance level, indicating a possible trigger for an upside breakout in the near future. At 11:50 GMT, natural gas futures are trading $1.807, down $0.005 or -0.28%. Natural gas prices showed resilience, bouncing back from initial losses earlier in the session. This rebound was primarily fueled by an increase in U.S. LNG exports and significant pipeline maintenance activities, which led to lower gas production estimates. The increase in LNG exports is particularly noteworthy, suggesting a shift towards greater demand in the energy market. A recent report by Tudor Pickering Holt & Co.… For
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