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Natural Gas Price Prediction - Prices Drop but Hold Support Ahead of Inventory Report

From fxempire.com

Natural gas prices moved lower on Wednesday ahead of Thursday inventory report from the Department of Energy. Expectations are for a 117 Bcf draw according to the average estimate from Estimize. The range is between 98 BCF and 170 BCF. Demand for the latest week declined as the weather was warmer in the high population centers and LNG exports declined according to the Energy Information Administration. Colder than normal weather is forecast to cover most of the west coast and mid-west over the next 6-10 days. The cold weather shifts west for the 8-14 day forecast which is likely the reason for the decline in prices. ... (full story)

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  • Category: Technical Analysis