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NATGAS rally 7% after lower EIA report 📈

4:08 PM 15 June 2023

Natural gas prices are gaining as the EIA inventory reading indicated 84 bcf versus 94 bcf expected and 104 bcf 

Additionally, gains are supported by the prospect of lower supply in Europe, with the Netherlands reporting that it is poised to shut down Europe's largest gas field within a four-month horizon. This could potentially again cause problems with insufficient supply during the winter months - the gas market received the news euphorically, with European TTF also gaining.

NATGAS is gaining and breaking out above the SMA200 and SMA100. The RSI index is at 80 points and indicates overbought. Source: xStation5

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