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UNL - Natural Gas: Near-Term Pullback Expected But Longer-Term Outlook Turning More Bullish
United States 12 Month Natural Gas Fund
Welcome to the don't get cute edition of Natural Gas Daily!
Natural gas prices are falling today as the market reassesses the fundamental supply and demand outlook going forward. Henry Hub cash price is currently trading around $2.50/MMBtu, and that's with higher than normal CDDs.
Source: HFIRweather.com
But just as CDDs start to fall and with the outlook more or less neutral at the moment, cash prices will likely fall as demand drivers pull back. This should see October contracts get closer to the current cash of around $2.50.