2:38 PM · 5 September 2024

NATGAS gains 2.7% ahead of US EIA inventories report

Nautral Gas prices are rising today ahead of US EIA inventories data scheduled at 3:30 PM BST. Markets expect that inventories will drop to 27 bcf vs 34 bcf previously reported and significantly below 5-year average of 51 bcf. Export of natural gas from Russian Gazprom felt first time this year, on a yearly basis. Hotter than expected September weather across the US signal more positive short term catalysts for natural gas prices.

Source: Bloomberg Financ L.P.

NATGAS (H1 interval)

NATGAS test upper resistance zone of the current price channel at $2.25 per MMBtu. 

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