2023-12-03 07:17:59

#Is bullrun coming soon? Natural Gas Prices Forecast: Weather, Storage Surplus to Shape This Week’s Trade

Next week’s natural gas prices likely to echo effects of mild weather, high storage, with focus on global LNG demand and domestic output.
Last Week’s Natural Gas Price Action
U.S. natural gas futures experienced a notable decline last week, primarily due to record-high production levels and forecasts for milder weather reducing heating demand.

The spot prices slid as the combination of increased output and lower-than-usual heating demand through mid-December suggests that utilities might withdraw less gas from storage.
This trend was evidenced by the U.S. Energy Information Administration’s (EIA) report showing an unexpected addition of 10 billion cubic feet (bcf) of gas to storage in the week ending November 24.

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