CM – Nat Gas Falls On Forecasts Weather in the United States will remain mostly mild

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natural gas

After global gas prices leveled off -5.37% yesterday to 410.6, the weather in the United States is forecast to remain mostly mild until the end of October. This decline in US prices came despite a slow but steady surge in US liquefied natural gas (LNG) exports as utilities in Europe and Asia scramble to replenish their gas supplies before the winter heating season and projections for a surge in the US Heat demand in two weeks, as the weather starts to cool. Azerbaijan plans to increase natural gas supplies to Europe and Turkey to 16 billion cubic meters (billion cubic meters) in 2022, the Azerbaijani energy minister said. Data provider Refinitiv said gas production in the lower 48 states increased from 91.1 billion cubic feet in September to an average of 92.0 billion cubic feet per day (bcfd) in October. That compares to a monthly record of 95.4 billion cubic feet in November 2019. Drills added 12 rigs but cut off a gas rig, according to Baker Hughes,% since then. Technically, the market is under new sales as the market saw open interest jump 11.53% to 3917 while prices fell -23.3 rupees. Now natural gas is supported at 402.7 and below that there could be a test of 394.8 levels and resistance is now likely to be seen at 424.1, a move up could cause prices to test 437.6. Â Trading Ideas: # The trading range for natural gas for the day is between 394.8 and 437.6. # Natural gas fell after a 9% decline in global gas prices. The weather in the United States is forecast to remain mostly mild through late October. # This decline in US prices came despite a slow but steady surge in US LNG exports as utilities in Europe and Asia scramble to increase gas supplies fill # Azerbaijan to increase gas supplies to Europe and Turkey in 2022

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