Natural Gas Target Price Update: NG (Natural Gas) Hit 228 To 237, Profit 22,500 in 2 Lots. Natural-gas futures moved lower early on Tuesday as long-term forecasts cool.
Natural Gas Target Price Update
NG 228 to 237 🚀🚀🚀
NG 228 to 237 🚀🚀🚀
NG 228 to 237 🚀🚀🚀
NG (Natural Gas) Profit 22,500 in 2 Lots.
European natural gas prices dropped by 6% to €32.5 per megawatt-hour on Monday driven by abundant gas supplies caused by the extended mild weather in the region, despite the ongoing cold snap.
The mild conditions led to a significant reduction in gas consumption for heating, while energy-intensive companies scaled back production, resulting in lower overall demand.
As a result, regional gas storage levels remain high, surpassing the typical levels for this time of year.
Starting the season almost full at 90%, current stockpiles have only decreased to around 85%, allowing Europe to maintain a higher-than-expected level of gas reserves.
If these current trends continue, Europe is set to enter spring with more than half of its underground gas storage capacity still available, compared to the 10-year average of just 35%.
