Natural Gas Dips to 3.13 as Mild Winter Cuts Demand But Cold Snap Could Flip the Script
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Natural Gas Dips to 3.13 as Mild Winter Cuts Demand But Cold Snap Could Flip the Script
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This is your Daily Natural Gas Price Tracker with Vanessa Clark podcast.
Hey friends, welcome back to Daily Natural Gas Price Tracker with Vanessa Clark. Im your host Vanessa, and today were diving into the latest on natural gas prices, storage updates, and what it all means for you.
Right now, the front month NYMEX natural gas futures are sitting at about 3.13 dollars per million British thermal units, up just a touch from yesterdays close around 3.12 dollars. Thats after a wild drop on Wednesday when the February contract tumbled to 3.07 dollars, thanks to milder weather forecasts and lower LNG export demand hitting a two month low. Economies.com notes the price has been hovering below 3.55 dollars with a bearish tilt, eyeing support near 2.85 dollars if it keeps sliding.
Big news from the EIA: last weeks storage report showed just a 71 billion cubic feet withdrawal as of January 9th, way less than the expected 87 to 91 billion cubic feet draw. Thats fueling the dip amid this unusually warm winter cutting heating demand. But hold on, colder air is forecast for late January, especially over the Martin Luther King holiday weekend, which could spark higher demand and a price bounce. FXLeaders and Rigzone analysts point to that as a potential turnaround, with output at high levels but weather poised to shift things.
For you listeners, heres your takeaway: if youre thinking investments or hedging home energy costs, watch that key 3 dollar support level. Its held strong multiple times since late last year. A break below could mean more downside, but incoming cold might offer a buy low chance.
Thats your daily natural gas update, packed with the fresh numbers to keep you ahead. Thanks for tuning in, best friends. Subscribe, share, and catch you next time for more on natural gas price tracker insights. Stay warm!
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