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Natural Gas Forecast: Technical Breakdown May Accelerate as Fundamentals Wane 2021-03-16 04:30:00 Thomas Westwater, Analyst
Natural Gas Forecast – Talking Points
Natural gas demand may take big hit on warmer-than-average temperature forecast
Seasonal shift in temperature likely to keep pressure on prices from the demand side
200-day Simple Moving Average in focus as trendline break sees prices moving lower
The most recent 8- to 14-day temperature outlook from the National Weather Service’s Climate Prediction Center paints an unfavorable picture for natural gas prices. Forecasted temperatures in the northeastern and western portions of the United States will be above average over the next two weeks. The south will likely be cooler than normal. Overall, the expected warmer weather – especially across the northeastern US – will likely weigh on demand, driving natural gas prices lower.
Natural Gas Prices May Rise on Colder Weather Forecast, EIA Inventory in Focus 2021-03-10 04:30:00 Thomas Westwater, Analyst
Natural Gas Outlook – Talking Points
Colder temperatures expected across the Southern US next week may lift natural gas prices
EIA storage report due out Thursday will likely drive prices going into the weekend
Prices look to maintain slight bullish bias if trendline support continues to hold
Natural gas may shift higher after an updated temperature outlook from the National Weather Service’s Climate Prediction Center. It showed an increased likelihood for colder-than-average temperatures in the central United States over the next 8 to 14 days. Natural gas is heavily utilized as a heating fuel source making its price highly subject to changes in weather as well as supply and demand factors in the market.
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