6:28 PM · 20 June 2024

NATGAS loses 4.8% as NOAA forecast points to colder end of June in US

Futures on natural gas (NATGAS) slipped significantly below $3 zone as new NOAA forecasts and Maxar Technologies geospatial data signals more cold weather for June 25-29 across the US East and Midwest. It may signal softer than expected air-conditiong demand at the end of the month. NATGAS reached 5-month highs last week, but sellers become more and more active above $3 / MBBtu resistance zone.

Source: Bloomberg Finance L.P. , NOAA

NATGAS erased almost all gains since last rollover at 18.06. and is losing almost 5% today, falling below $2.85 per MMBtu.

Source: xStation5

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