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Natural Gas Prices Slide on Warmer Weather Forecast

From fxempire.com

Natural gas futures prices moved lower on Monday as the national weather points to warmer than normal temperatures in most of the east coast and cooler than normal on the west coast. In the wake of record-low temperatures affecting most of the country, dry natural gas production in the United States fell by 21.0 billion cubic feet per day, as rigs were unable to function. It might take 1-2 weeks before rigs are able to get back up and running give the current situation in Texas. Natural gas prices moved lower on Monday declining 4% but holding just above support near an upward sloping trend line that comes in near ... (full story)

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  • Category: Technical Analysis