EPIC RESEARCH MCX Naturalgas UPDATE OF 12 December 2018
Posted by Commodity Updates by Epic Research on 11:46:00 with No comments
Natural gas slipped on forecasts for steady, mostly warmer-than-normal weather and lower demand over the next two weeks, despite declines in daily output.
Meteorologists stuck with their previous predictions that the weather would remain warmer than usual through Dec. 22 before turning near normal.
Worries prices had more room to rise than fall during the rest of the winter prodded speculators to cut their short positions in NYMEX futures.
With the weather expected to warm, projected gas demand in the Lower 48 states would ease to 104.5 bcfd next week from the 104.8 bcfd forecasted.
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