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Thursday 28 February 2019

EPIC RESEARCH MCX Naturalgas UPDATE OF 28 February 2019

Naturalgas trading range for the day is 194.3-202.5.

Natural gas prices traded in range despite forecasts for less heating demand next week than previously expected.

With forecasts for less severe weather, projected demand in the lower 48 U.S. states would average 127.5 billion cubic feet per day next week.

Gas production in the Lower 48, meanwhile, held around 87.3 bcfd on Tuesday, its highest in almost two weeks.

Utilities likely pulled a much bigger than normal 171 billion cubic feet of gas from inventories during the colder than usual week ended Feb. 22.

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