Natural gas prices began this week with a drop, losing over 5% and trading for $2.5537/mmBtu. Last week was dominated by news of weak supply and low storage levels.
But a bearish sentiment has taken hold of markets on Monday, possibly driven by some profit-taking, as well as a forecast for warm weather that will arrive later than usual.
Natural gas traders are already focusing their analysis on the weekly EIA storage report from the EIA, where the impact of wildfires in Alberta, Canada and lower wind energy production will become clearer.
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00:00 Intro
00:17 Natural gas news update
03:34 Natural gas price chart analysis
07:58 Recap
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13 Comments
At what price NG in Europe will they stop importing LNG?
Thanks for ur input good job 👍
You could maybe do a little more research, look at things like the El Nino currently brewing in the Pacific and the likely impact of that on demand this summer.
Excellent & to the point professional overview of the situation. Don't forget, the next coming days (and weeks) will be mild to slightly warm in the US. This results in a lower, to very light demand for the commodity. Same here in Europe BTW.
Happy Monday
A few uhm and ers need checking to help smooth the listening pleasure. But good overall thanks , is gas a buy here, why hasnt the gas price doubled and stayed there are we not using more gas to power all the evs 😅
little late update comparing to price action and latest chart.
About 40% of the US power grid is run on natural gas. It is often times only thought of as a winter heating commodity and that is incorrect.
Where is the usual guy? Why is a soccer mom doing the analysis? They can't pay for a real analyst?
Come on! 😂
Please tell your company overlords that they need to bring back low margin size on WTI and commodities. We want to trade WTI in small 0.1, 0.2, 0,3 sizes.
keep in mind that LNG price can fall to 1 USD
'What we need to know'? It's summer FFS. It always happens.
I am looking BOIL and UNG. It's a BUY! BOIL has a target Fibo at exactly 1 USD. and UNG from 5.5 to 3 USD. Anyway it's a buy.