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A move above $4.901 would signal a continuation of the rally, with the next major target at $5.627. On the downside, key support levels include a pivot at $4.322, followed by $4.132, which would indicate a shift in momentum. Additional support lies at $3.924 and $3.742, with the 50-day moving average at $3.654 serving as the primary level controlling the intermediate trend.<\/p>\n
Forecasts for warmer-than-expected temperatures in mid-March are dampening demand expectations. Atmospheric G2 reported that the northern and western U.S. will see above-normal temperatures from March 16-20, reducing heating demand. Additionally, NatGasWeather noted that much of the interior U.S. will experience highs from the upper 50s to the 80s this week, contributing to weak short-term demand.<\/p>\n
These mild conditions contrast with underlying supply concerns. BloombergNEF projects U.S. natural gas storage to be 10% below the five-year average by summer, while EIA data shows inventories are already 11.3% below their seasonal norm. Storage tightness remains a supportive factor, but without near-term cold, traders may hesitate to push prices higher.<\/p>\n
Lower-48 dry gas production stood at 106.0 Bcf\/day on Tuesday, reflecting a modest year-over-year increase of 2.7%. Meanwhile, demand fell to 77.2 Bcf\/day, a 4.4% decline from the previous year. LNG flows to export terminals also dipped slightly to 14.9 Bcf\/day. While production is not surging, the absence of strong demand leaves prices vulnerable in the short term.<\/p>\n
Another bearish signal came from last week\u2019s EIA report, which showed a smaller-than-expected storage draw of 80 Bcf, below both forecasts (-93 Bcf) and the five-year average draw (-94 Bcf). This suggests demand is failing to exert enough pressure to accelerate withdrawals.<\/p>\n
In a longer-term bullish development, President Trump lifted the Biden administration\u2019s pause on LNG export project approvals, opening the door for increased natural gas demand. A Bloomberg report indicates the administration is close to approving the Commonwealth LNG export facility in Louisiana, which would add to U.S. export capacity and tighten domestic supply.<\/p>\n<\/div>\n
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[ad_1] Daily Natural GasA move above $4.901 would signal a continuation of the rally, with the next major target at $5.627. On the downside, key support levels include a pivot at $4.322, followed by $4.132, which would indicate a shift in momentum. Additional support lies at $3.924 and $3.742, with the 50-day moving average at $3.654 serving as the primary level controlling the intermediate trend. Is Weather the Biggest Risk to Bulls? Forecasts for warmer-than-expected temperatures in mid-March are dampening demand expectations. Atmospheric G2 reported that the northern and western U.S. will see above-normal temperatures from March 16-20, reducing heating demand. Additionally, NatGasWeather noted that much of the interior U.S. will experience highs from the upper 50s to the 80s this week, contributing to weak short-term demand. These mild conditions contrast with underlying supply concerns. BloombergNEF projects U.S. natural gas storage to be 10% below the five-year average by summer, while EIA data shows inventories are already 11.3% below their seasonal norm. Storage tightness remains a supportive factor, but without near-term cold, traders may hesitate to push prices higher. Is Production Weak Enough to Support Prices? Lower-48 dry gas production stood at 106.0 Bcf\/day on Tuesday, reflecting a modest year-over-year increase of 2.7%. Meanwhile, demand fell to 77.2 Bcf\/day, a 4.4% decline from the previous year. LNG flows to export terminals also dipped slightly to 14.9 Bcf\/day. While production is not surging, the absence of strong demand leaves prices vulnerable in the short term. Another bearish signal came from last week\u2019s EIA report, which showed a smaller-than-expected storage draw of 80 Bcf, below both forecasts (-93 Bcf) and the five-year average draw (-94 Bcf). This suggests demand is failing to exert enough pressure to accelerate withdrawals. Will LNG Expansion Drive Long-Term Support? In a longer-term bullish development, President Trump lifted the Biden administration\u2019s pause on LNG export project approvals, opening the door for increased natural gas demand. A Bloomberg report indicates the administration is close to approving the Commonwealth LNG export facility in Louisiana, which would add to U.S. export capacity and tighten domestic supply. [ad_2]<\/p>\n","protected":false},"author":1,"featured_media":38403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[45],"tags":[],"class_list":["post-38402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financas"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/38402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/comments?post=38402"}],"version-history":[{"count":0,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/posts\/38402\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media\/38403"}],"wp:attachment":[{"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/media?parent=38402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/categories?post=38402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tiproject.online\/index.php\/wp-json\/wp\/v2\/tags?post=38402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}