EPIC RESEARCH MCX Naturalgas UPDATE OF 12 February 2019

Posted by Commodity Updates by Epic Research on 11:32:00 with No comments

Naturalgas trading range for the day is 180.4-201.

Natural gas rose on expectations of higher demand for the fuel as forecasts pointed to cooler weather.

Gas production in the Lower 48, meanwhile, rose to 86.5 bcfd from a four-month low of 85.0 bcfd on Jan. 31.

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

Data indicates 473 heating degree days (HDDs) in the Lower 48 U.S. states over the next two weeks. The normal is 395 HDDs for this time of year.

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