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Monday 10 December 2018

EPIC RESEARCH MCX Naturalgas UPDATE OF 10 December 2018

Naturalgas trading range for the day is 289.5-343.3.

Natural gas surged on a bigger-than-usual weekly storage draw and a midday forecast calling for colder weekend weather.

EIA said utilities pulled a greater-than-usual 63 billion cubic feet of gas from inventories during the cold week ended Nov. 30.

The decrease cut stockpiles to 2.991 tcf, 19.5 percent below the five-year average of 3.716 tcf for this time of year and the lowest for the week since 2002.

Projected gas demand in the Lower 48 would rise to 111.8 bcfd next week before falling to 105.4 bcfd in two weeks as the weather warms.

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