From Investing.com: 2025-01-22 04:31:00

Shifting weather patterns and EIA projections present short-term challenges for natural gas. Despite current corrections, a bullish case emerges for the future due to global demand and the energy transition. Support levels near $3.70 will determine the market’s direction. EIA forecasts long-term price gains, with prices expected to rise in the coming years.

The EIA projects natural gas prices to increase in the future, with Q1 2025 prices at $3.21 per MMBtu, rising from $2.91. Demand surpassing supply growth in the U.S. and increased imports from Asian markets contribute to the positive outlook. Storage trends and technical analysis suggest potential price fluctuations based on market conditions.

Storage levels remain slightly above average, but year-over-year comparisons show a modest decline. Price movements will depend on temperature swings during the heating season. Technical analysis indicates resistance near $4.40 per MMBtu and critical support at $3.70 per MMBtu. Further price targets could be $3.50 and $3.30 per MMBtu if support levels are breached.



Read more at Investing.com: Natural Gas: Near-Term Bearishness Could Persist With $3.70 Support Under Threat