From Investing.com: 2024-12-04 03:44:00

Henry Hub natural gas prices have surpassed $3 per MMBtu due to cold weather boosting demand. European storage levels have fallen by 11%, raising concerns about supply constraints. The critical $3 support for Henry Hub will guide short-term price movements. The market is anticipating potential energy crunches as winter approaches.

The U.S. Energy Information Administration has increased its 2025 price forecast for natural gas to $3.06 per MMBtu. Despite high inventory levels in the U.S., prices are expected to rise. Record trading volumes suggest heightened activity and potential price swings in the near future.

European natural gas storage inventories have declined by 11%, causing unease in the market. With temperatures playing a crucial role, a harsh winter could further strain demand. Technical levels indicate a support zone near $3 per MMBtu, with potential for further declines. Traders should closely monitor these levels for price action cues.

The natural gas market presents both opportunities and risks for traders. While bullish forecasts and trading volumes offer potential gains, U.S. inventories and European supply challenges pose uncertainties. Traders must stay informed about technical levels and weather patterns to navigate the volatile market ahead.



Read more at Investing.com: Natural Gas: Bulls Eye $4 on Cold Weather Forecasts Amid Record Trading Volumes