Natural Gas futures experienced a second consecutive session of gains, though the trade remained rangebound. While prices rose nearly 5% at the daily high, the market is on track for its second straight weekly decline. Domestic demand is projected to stay within a low band over the next seven days. Cold systems in the Great Lakes and Northeast will provide a temporary chill before a warming trend brings temperatures into the 40s and 50s across those regions. The latest EIA Natural Gas Inventory report showed a draw of 249 billion cubic feet, which was smaller than market expectations. This draw brought total supplies to 2.214 trillion cubic feet, reflecting a deficit of 130 billion cubic feet and a decrease of 97 billion cubic feet compared to the previous year.
https://www.cmegroup.com/markets/energy.html
#NaturalGas #EnergyMarkets #Commodities
https://www.cmegroup.com/markets/energy.html
#NaturalGas #EnergyMarkets #Commodities