Front futures down 0.074 (-2.91%) at 2.465.
From FX Empire:
Looking ahead to Friday’s government storage report, Natural Gas Intelligence’s model is predicting a 191 Bcf withdrawal for the week-ending Jan 15.
Natural gas futures are trading lower on Thursday while continuing to straddle a key support area that could determine its near-term direction. The market is also trading inside yesterday’s range, which suggests investor indecision and impending volatility.
The lack of cold temperatures has been the main reason for the recent drop in prices, but bullish speculators face another issue that could wipe out most of the gains seen since late December. Demand could be dropping for liquefied natural gas (LNG) after a report showed a drop in export volumes.
At 14:37 GMT, March natural gas futures are trading $2.498, down $0.035 or -1.38%.
Short-Term Weather OutlookAccording to NatGasWeather.com for January 21 to January 27, “Cool to cold conditions will spread across the northern U.S. the next few days with highs of 20s to lower 40s for stronger national demand. The West will be cool and unsettled with areas of rain and snow and highs of 20s to 50s. The central and southern U.S. will be mild to warm with highs of 40s to 70s for light demand. After a brief break Monday across the Midwest and East, another chilly cold shot will arrive mid-next week with lows of 0s to 30s for a return to strong national demand. Overall, low demand today, then increasing to high by Saturday.”...
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