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home / news releases / FCG - Natural Gas: Prices Will Rise Even If The Weather Forecast Remains Unchanged

FCG - Natural Gas: Prices Will Rise Even If The Weather Forecast Remains Unchanged

First Trust Natural Gas
  • Currently, we expect the EIA to report a draw of 30 bcf next week (a final estimate will be released on Wednesday).
  • Annual storage surplus is projected to shrink by 84 bcf by December 25.
  • There seems to be a bullish divergence between the value of the forward curve and the latest natural gas storage forecast (see the charts below).
  • 2.520 looks like a strong support level (for now), and it is unlikely to be broken in case the weather forecast remains flat.
  • However, if the weather turns more bearish and production remains flat, next support will be at 2.500-2.497, 2.450-2.446, and 2.401.

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Natural Gas: Prices Will Rise Even If The Weather Forecast Remains Unchanged
Stock Information
Company Name: First Trust Natural Gas
Stock Symbol: FCG
Market: NYSE
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