Natural Gas Finds Its Floor: Why 3 Bucks Matters for Your Winter Bills
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Natural Gas Finds Its Floor: Why 3 Bucks Matters for Your Winter Bills
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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. I'm Vanessa, your go-to guide for all things natural gas prices, and today we're diving into the latest on natural gas trading, forecasts, storage updates, and what it means for you.
Right now, the front-month NYMEX natural gas for February delivery settled at about 3.10 dollars per million British thermal units this week, after dipping a bit from higher levels earlier in January. The Henry Hub spot price held steady around 3.12 dollars per MMBtu as of yesterday, according to the EIA Natural Gas Weekly Update. Economies.com notes the price bounced from a key 3.02 dollar support level toward 3.16 dollars, showing bullish potential if it stays above 2.85 dollars, with a trading range today between 3.05 and 3.50 dollars.
Why the flat vibe despite colder forecasts? ADM Investor Services reports March futures stayed near unchanged, even with below-normal temps expected in the northern U.S. through late January. The big story is storage: EIA data shows just a 71 billion cubic feet withdrawal last week, way less than the expected 90 billion, leaving stocks at 3,185 billion cubic feet, above last year and the five-year average. Production dipped slightly to 109.1 billion cubic feet per day, but high LNG exports at 18.5 billion cubic feet per day keep supply ample.
Looking ahead, FXEmpire analysis sees natural gas building a base, with cold weather possibly pushing demand and prices toward 3.50 dollars or higher. Keep an eye on next week's reports, especially with the holiday Monday slowing things down.
For you at home or investing, here's your takeaway: If you're hedging energy costs, watch that 3.00 dollar support closely, as bearish storage could test it, but winter demand might spark a rally. Stay tuned for opportunities.
Thanks for joining me today, friends. Hit subscribe, share with a buddy, and tune in next time for more natural gas insights. Talk soon!
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