Natural gas prices are under pressure from US medium-term weather forecasts. Although in the east of the country slightly cooler days are expected in the coming week, weather services predict a wave of heat coming from the west. The heating season may therefore begin later than in previous years, which may potentially create further downward pressure on gas prices.
After yesterday's strong declines, natural gas prices are trying to rebound. NATGAS is currently testing major level of $ 2,550. If buyers will manage to break higher, then further upward impulse towards $ 2,720 could be launched. However a lot will depend on weather expectations. Source: xStation5
Positioning in the natural gas market remains high. Source: Bloomberg
