EPIC RESEARCH MCX Naturalgas UPDATE OF 19 March 2019

Posted by Commodity Updates by Epic Research on 11:16:00 with No comments

Naturalgas trading range for the day is 187.8-201.4.

Natural gas gained on short covering after prices slipped on forecasts for moderating weather and declining heating demand over the next two weeks.

With the weather expected to moderate, data provider Refinitiv projected demand in the Lower 48 U.S. states will slip to an average 99.9 bcfd next week.

Utilities likely pulled a near normal 52 billion cubic feet (bcf) of gas from inventories during the week ended March 15.

U.S. dry natural gas production will rise to an all-time high of 90.73 billion cubic feet per day (bcfd) in 2019 from a record high of 83.35 bcfd in 2018

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