EPIC RESEARCH MCX Naturalgas UPDATE OF 1 August 2018

Posted by Commodity Updates by Epic Research on 11:43:00 with No comments

Naturalgas trading range for the day is 188.9-196.7.

Natural gas prices traded in range on forecasts for less hot weather and lower demand over the next two weeks than previously expected.

Natural gas prices are 12% below the 5-year average, which is 3.14, which makes them relatively cheap when comparing them to the 5-year average inventory level.

According to the EIA natural gas inventories are 705 Bcf less than last year at this time and 557 Bcf below the five-year average of 2,830 Bcf.

NatGasWeather said that it saw the return of heat “especially for next week, seeing a stronger ridge over the eastern half of the country.”

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