Natural Gas News – February 1, 2024
Natural Gas News – February 1, 2024
Natural Gas Prices Forecast: Futures Consolidating
U.S. natural gas futures are experiencing a slight uptick, consolidating for the third consecutive session. Despite this, weather forecasts suggest a bearish outlook. NatGasWeather highlights the warmest pattern in the next 15 days of the past 50 years, potentially reducing heating demand. The U.S. is witnessing an active weather
pattern with varying temperatures across regions. The northern U.S. is experiencing mild temperatures, while the southern U.S. remains warm. A cold shot is expected in the Northeast, but overall, national demand for natural gas is projected to be very light in the next seven days. Natural gas futures plunged to a nine-month low as the March contract became the front-month. This drop is attributed to milder weather forecasts and lower heating demand. Additionally, U.S. industrial demand fo… For more info go to http://tinyurl.com/yxwbzjkf
Natural Gas Stages Turnaround on Woodward Forecast
Natural Gas (XNG/USD) has breached the floor of 2023 at $2.10 and is now entering an area not seen since August 2020. Though the decline could be short-lived after Woodward Inc. held a conference call and mentioned a remarkable element in there on China. Demand for natural gas trucks is booming in China, with demand having
increased significantly aginst last year, CEO Charles Blankenship said during a conference call. The US Dollar (USD), which is negatively correlated to Gas prices, was trying to sprint away on Monday with a mix of safe-haven inflows after three US military people were killed over the weekend during a drone strike on a US base in Jordan. The US Defense administration was quick to issue comments that it is not looking for retaliation or expanding military action in the reg… For more info go to http://tinyurl.com/mvszdpzz
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
