Natural Gas News – May 9, 2025
Natural Gas News – May 9, 2025
Will OPEC+ Cuts Push Prices Higher?
OPEC+ cuts and sanctions support oil prices despite U.S. production growth. Natural gas holds above $3.634 as technical levels signal
potential breakout. WTI tests $59.86 pivot with resistance at $61.51 – bullish momentum builds. Natural gas and crude oil prices remain
volatile amid ongoing geopolitical tensions and shifting trade dynamics. OPEC+ output cuts, including declines from Libya, Venezuela, and Iraq, have tightened global supply, supporting prices despite pressure from rising U.S. production. Meanwhile, tighter sanctions on Iranian crude are further constraining supply, potentially lifting prices. Analysts at Rystad Energy expect regional conflicts to increase diesel demand for military logistics, while commercial aviation faces disruptions due to airspace restrictions. India, a key oil consumer at 5.4 m… https://tinyurl.com/yesrmhzx
Struggles at Resistance After 31% Rally
Natural gas retested key resistance and reversed sharply, suggesting a possible short-term pullback before the next attempt at a breakout
above the $3.75 zone. Natural gas retested a resistance zone on Thursday, establishing a high of $3.72. That was a direct touch with
the 61.8% Fibonacci retracement of the most recent downswing. Subsequently, sellers took back control and drove the price down
and negative for the day. Trading continues near the lows of the day at the time of this writing, and it looks likely that the day will end with the price of natural gas in a similar weak position. Currently, the low for the day was $3.53. Before the bull trend can go higher it first needs to break out from the resistance zone that stopped the ascent on Monday and then again today. Resistance was se… For more info go to https://tinyurl.com/2wj5n8m4
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