Natural Gas News – February 28, 2025
Natural Gas News – February 28, 2025
Nat-Gas Prices Slip as EIA Draws Less Than Expected
April Nymex natural gas (NGJ25) on Thursday closed down -0.025 (-0.63%). April nat-gas on Thursday settled moderately lower after weekly nat-gas inventories fell less than expected. The EIA reported Thursday that nat-gas inventories fell -261 bcf last week, a smaller draw than expectations of -271 bcf. Also, forecasts for warmer US temperatures to reduce heating demand for nat-gas weighed on prices. The Commodity Weather Group said Thursday that above-normal weather is expected across the southern half of the US for the March 4-8 period. Nat-gas prices have been whipsawed in the past several sessions by weather factors and have consolidated below last Thursday’s 2-year high… https://tinyurl.com/3wd5jjab
Bearish Forecast: Prices Slide on Warmer Weather
U.S. natural gas prices are sliding on Friday, easing off the $4.020 resistance level and approaching a potential retest of the weekly low at $3.862. A critical pivot at $3.733 looms, with buyers potentially stepping in at this level. However, failure to hold this support could push prices toward the 50-day moving average at $3.413, a key trend indicator since December 10. At 13:18 GMT, Natural Gas Futures are trading $3.892, down $0.042 or -1.07%. The latest forecast from NatGasWeather indicates that warmer-than-normal temperatures will persist across the U.S. through Friday, limiting demand. The southern states are seeing ideal highs in the 60s to 80s, while the northern regions remain mild with highs in the 30s to 50s.… For more info go to https://tinyurl.com/2s3vjy3y
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