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Monday 28 January 2019

EPIC RESEARCH MCX Naturalgas UPDATE OF 28 January 2019

Naturalgas trading range for the day is 211.6-234.4.

Natural gas gained after weather forecasts predicted more frigid temperatures over the next two weeks than previously expected.

U.S. dry natural gas production will rise to an all-time high of 90.19 billion cubic feet per day (bcfd) in 2019 from a record high 83.31 bcfd in 2018.

The U.S. Energy Information Administration (EIA) said utilities pulled just 163 billion cubic feet (bcf) of gas from inventories during the week ended Jan. 18.

With colder weather expected, financial data provider Refinitiv boosted its gas demand projection for the Lower 48 states to 129.8 billion cubic feet per day.

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