Natural Gas News – July 23, 2024
Natural Gas News – July 23, 2024
Freeport LNG Resumes, But Market Struggles with Supply-Demand
Natural gas futures dip as market grapples with supply-demand dynamics, retreating from Monday’s 4.3% gain. Freeport LNG, the second-largest U.S. exporter, resumes operations, potentially adding 1.0 Bcfd to supply. U.S. natural gas production decreased by over 1 Bcf compared to last week, influencing recent price gains. Natural
gas futures are edging lower on Tuesday, retreating from Monday’s gains as the market continues to grapple with supply-demand dynamics. This downward movement comes after the August contract rose 4.3% to $2.220 per million British thermal units (mmBtu) on Monday, marking the third consecutive session of gainsat that time. At 13:03 GMT, Natural Gas Futures are trading $2.199, down $0.052 or -2.31%. Freeport LNG, the second-largest U.S.
liquefied natural gas exporter, has resumed shipments… For more info go to https://tinyurl.com/swbx5dju
Natural Gas Set to Grow from Long-Term Support
Recent inventory reports indicate a bullish outlook for natural gas prices. Historical price spikes and current technical formations indicate potential investment opportunities for long-term investors. Natural gas prices are trading near the baseline support, indicating that the price is still low. Natural gas is a crucial component of the global energy landscape, widely used for electricity generation, heating, and as a chemical feedstock. Its price is impacted by inventory levels, geopolitical events, and weather patterns, all of which have significant economic implications. Recent inventory reports indicate higher demand and suggest a bullish outlook for natural gas prices. This article presents the technical… For more
info go to https://tinyurl.com/r43ussnc
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