NATURAL GAS NEWS 19/02/2024 UPDATE BEST TRADING TIPS FOR BEGINNERS BY https://www.youreasytrade.com GET MORE INFO CW/7302366166
Natural Gas Dropped On Rising, Near-Record Output.
Natural gas settled with a slight decline of -0.22%, closing at 133.3, as near-record output and a smaller-than-expected storage withdrawal last week contributed to market dynamics. US utilities withdrew 49 billion cubic feet of natural gas from storage, falling short of market expectations of a 67 bcf draw due to warmer-than-normal weather suppressing heating demand.
The report indicated that gas in storage is currently 15.9% above the seasonal norm. The U.S. Energy Information Administration (EIA) projected a higher average natural gas spot price in 2024 and 2025 compared to the previous year, but it is expected to remain below the $3.00-per-million British thermal units (MMBtu) mark.
