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COM - Evaluating Predicted Stair Stepped Natural Gas Spot Prices And More
Direxion Auspice Broad Commodity Strategy
2024-07-10 16:28:14 ET
Summary
Natural gas prices have fluctuated, reaching mid-to-high $2s due to summer heat demand before dropping under $2.5.
Our predicted recovery pattern for natural gas prices includes a gradual increase into mid $2 region through 2024 and potentially reaching a $3+ range thereafter.
Major gas producers are cutting capital expenditures and deferring new well production in anticipation of future demand and potential price recovery.
With rising prices, some producers have returned a smaller portion of its former production.