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Wednesday 23 January 2019

EPIC RESEARCH MCX Naturalgas UPDATE OF 23 January 2019

Naturalgas trading range for the day is 206.2-247.

Natural gas dropped on forecasts for less severe winter weather over the next two weeks than previously projected.

Pressure seen on weather forecasts for less cold in early February had investors questioning how much gas would be needed for heating.

Those cold forecasts renewed concerns about low stockpiles and sparked a return to the extreme market volatility seen at the end of 2018.

Gas output in the Lower 48, meanwhile, fell to 85.0 bcfd on Monday, its lowest level since September, down from a recent high of 87.4 bcfd.

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