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Tuesday, 5 March 2019

EPIC RESEARCH MCX Naturalgas UPDATE OF 5 March 2019

Naturalgas trading range for the day is 199.3-207.1.

Natural gas traded in range on forecasts for heating demand to soar next week as extreme cold blankets much of the country.

With the brutal cold coming, data projected average demand in the Lower 48 U.S. states would jump to 126.7 bcfd next week from a forecast 114.3 bcfd.

Utilities likely pulled a bigger-than-normal 127 billion cubic feet (bcf) of gas from inventories during the colder-than-usual week ended March 1.

The decline for the week to March 1 would cut stockpiles to 1.412 trillion cubic feet, 23.8 percent below the five-year average of 1.854 tcf for this time of year

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