EPIC RESEARCH MCX Naturalgas UPDATE OF 11 February 2019

Posted by Commodity Updates by Epic Research on 11:27:00 with No comments

Naturalgas trading range for the day is 181.3-187.9

Natural gas recovered as investors covered short positions after prices dropped on forecasts for warmer-than-expected weather.

The U.S. EIA said utilities pulled 237 billion cubic feet (bcf) of gas from inventories during the brutally cold week ended Feb. 1.

With the weather expected to be a little warmer than previously forecast, projected demand for gas in would reach 118.5 bcfd

Last week, daily consumption peaked at a record high 147.2 bcfd on Jan. 30, the coldest day of the arctic freeze.

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