5:53 PM · 17 June 2024

NATGAS drops below $2.80

Pullback on the US natural gas market (NATGAS) extended into a new week. NATGAS launched new week's trading with a bearish price gap and continued to move lower. US natural gas prices are down almost 4% on the day and move back below $2.80 per MMBTu for the first time in almost 2 weeks. New weather forecasts from US National Oceanic and Atmospheric Administration (NOAA) can be named as a reason behind the drop today. New forecast (right side on the chart below) point to lower probability of above-average temperatures in key Midwest region over the next 8-14 days, compared to pre-weekend forecast (left side on the chart below). However, it should be noted that new forecast still suggest an over-50% chance of above-average temperatures occurring.

Source: NOAA

Taking a look at NATGAS chart at H1 interval, we can see that price dropped and tested short-term support zone marked with the 61.8% retracement of the upward impulse launched at the turn of May and June 2024. So far, buyers managed to defend this hurdle and a small bounce off the area occurred. However, price remains down almost 4% on the day.

Source: xStation5

21 May 2026, 6:53 PM

Daily summary: Peace agreement draft lifts the market

21 May 2026, 5:18 PM

Oil keeps rising: is there reason to worry?

21 May 2026, 9:48 AM

Coffee hits November 2024 lows as Brazil heads for record harvest 📉

21 May 2026, 9:36 AM

🛢️Chart of the Day – Oil Reacts to Trump’s Words Again. Real Drop or Just a Correction?

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits