EPIC RESEARCH MCX Naturalgas UPDATE OF 2 August 2018

Posted by Commodity Updates by Epic Research on 11:36:00 with No comments

Naturalgas trading range for the day is 187.2-193.6.

Naturalgas settled down at 189.70 as weaker than expected U.S. manufacturing data offset a warmer than expected weather forecast.

The EIA also reported that distillate fuel demand averaged 3.9 million barrels per day, down by 5.9% from the same period last year.

The warmer than normal weather that is forecast to cover most of the United States over the next 8-14 days should increase cooling demand.

The average inventory draw estimated by Estimize is a build of 40 Bcf, inventories remain at the lower end of the average 5-year range.


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