Natural Gas Dec '21 (NGZ21)
Natural Gas Futures Market News and Commentary
Mar WTI crude oil (CLH23) this morning is down -0.79 (-0.98%), and Mar RBOB gasoline (RBH23) is down -2.60 (-0.99%). Feb Nymex natural gas (NGG23) is down -0.034 (-1.55%).
Crude oil and gasoline prices this morning gave up an early advance and are moderately lower. A stronger dollar today is undercutting energy prices. Also, technical selling pressured prices as long liquidation emerged today after crude failed to take out Monday's 1-week high.
Feb nat-gas this morning is moderately lower and is just above Thursday's 1-3/4 year low. Updated weather forecasts today have generally shifted warmer for most of the U.S. starting Feb 1, which will reduce heating demand for nat-gas. Also, a report today from Rystad Energy weighed on crude prices when Rystad said nat-gas prices might fall to as low as $2 per million British thermal units in the next few months as rising supplies are poised to outpace demand.
Today's U.S. economic data was mixed for energy demand and c... Read more
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