4:35 PM · 7 June 2024

NATGAS jumps to 2-week highs

While the majority of commodities trade under pressure today amid post-NFP USD strengthening, there is one commodity that visible bucks this trend - US natural gas prices (NATGAS). NATGAS gains over 3% today and trades at the highest level in 2 weeks. Weather forecasts for the United States can be named as a reason behind the move as they continue to point to a higher-than-average temperatures in key regions. This means that demand for air conditioning, and therefore power generated by gas-powered plants, will likely increase. 

Forecast for the next 8-14 days an over 50% chance of above-average temperatures in the US Midwest region. Source: Bloomberg Finance LP

Taking a look at NATGAS chart at H1 interval, we can see that price jumped above $2.85 per MMBTu resistance zone today and is now trading over 15% above the local low from end of May. A daily high today was reached above $2.92, but price pulled back slightly. Nevertheless, NATGAS continues to trade 3% higher on the day. The next potential resistance zone to watch can be found in the $2.95 area, marked with late-May highs.

Source: xStation5

16 September 2026, 8:19 PM

📊Daily Summary - Hawkish Fed raises rates and signals more. Dollar gains while gold falls

16 September 2026, 7:59 PM

Hawkish move from the Fed! Warsh takes no prisoners in the fight against inflation. US500 at its lowest since August 3, and gold already below $4,300.

16 September 2026, 6:02 PM

🟡Gold gains 1.2% ahead of Fed decision

16 September 2026, 5:00 PM

🛢️US deal with the Houthis excludes Saudis, but Aramco fixes pipeline quickly. Why the drop in Brent crude?

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