NATGAS fell more than 8.0% during today's session as prospects of warmer weather forecasts over the next two weeks overshadowed news regarding reopening of the Freeport LNG export plant in Texas. Higher temperatures should lower demand for gas, while Freeport terminal is on track to receive about 25 million cubic feet per day (mmcfd) of feed gas. Investors also ignored reports of an explosion at a Russian pipeline which transfers gas to Europe. From technical point of view, NATGAS price broke below key support at $5.72, which now acts as resistance. Currently price is moving towards October 2022 lows at $5.26. If sellers will manage to uphold current momentum, then sell-off may intensify. In this case, next support to watch is $4.75.
NATGAS, H4 interval. Source: xStation5
Pound slumps as Burnham enters the race to be PM, as Cerebras has stunning IPO
Morning Wrap: Trump and Xi shape markets. AI drives record highs while Iran and geopolitics dampen sentiment
BREAKING: Natural gas (NATGAS) prices are rising following the release of EIA data from the U.S.
🟠Copper nears historic highs on sulphur shortages and AI boom
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
