BREAKING: NATGAS slightly down following EIA report

EIA Natural Gas Change (cubic feet):

• Actual -93 bn
• Forecast -98 bn
• Previous -125 bn

 

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The NATGAS contract hit the 30-day EMA (light purple) following the lower than expected change. The reading came in significatly lower that a five-year everage for the week (-127 BCF), thus forcing the commodity to further give up its most recent gains. The temperature outlook for the upcoming week remians elevated realtive to the past years averages.

 

Source: xStation5

Source: NOAA

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