Natural Gas News – April 4, 2025
Natural Gas News – April 4, 2025
Cooler US Weather Forecasts Boost Nat-Gas Prices
May Nymex natural gas (NGK25) on Thursday closed up +0.083 (+2.05%). May nat-gas prices settled higher on Thursday after weather forecasts for the northern US shifted colder, which could boost heating demand for nat-gas. Forecaster Atmospheric G2 said Thursday that forecasts turned colder for the northern US and West Coast for April 8-12. Gains in nat-gas prices were muted on Thursday after weekly EIA nat-gas inventories rose +29 bcf, slightly above expectations of +28 bcf and well above the five-year average for this time of year of a -13 bcf draw. Last month, nat-gas rallied to a 2-year high on signs that US nat-gas storage levels could remain tight ahead of the summer air-conditioning season.… https://tinyurl.com/52jf9kj4
Natural Gas Consolidates Below 20-Day Moving Average
Natural gas consolidated just below the 20-Day MA on Wednesday, and it is on course to end the trading session as an inside day. Although the day was up from Tuesday’s closing price, the high of the day at $4.09 found resistance at the 20-Day MA, now at $4.08. That high established a lower daily high, reflecting downward pressure. It has short-term bearish implications that may be amplified by the fact that the 20-Day MA was also near. Support for the past two days at $3.93 is near the prior interim swing low from mid-March. Moreover, a 61.8% Fibonacci retracement also was completed.… For more info go to https://tinyurl.com/jrnwnwnt
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