Natural Gas News: Market Eyes 50-Day Sliding Average When Prices Glide

Night Gasweather Easy to predict in the next seven days with only short cold spells. Without lasting colds, natural gas bulls can fight to regain control.

EIA storage report signalizes great draw but market focus changes change

EIA reported a 321 BCF repayment for the week that ended on January 24, reflecting last week’s Arctic Blast. This exceeded the five -year average feature of 187 BC, but was largely in line with expectations.

The total work gas in storage is now 2,571 BCF-144 BCF below last year and 111 BCF below the five-year average. While the storage deficit provides some support, dealers shift focus to upcoming weather patterns that seem less favorable to prices.

European gas prices are rising on supply problems

European prices on natural gas hit a 15-month high when inventories fell. The Dutch TTF Benchmark increased 4.2% to 53.62 euros per year. Megawatt Time on Friday and expanded the recent winnings.

EU gas storage was 54.6% full-in accordance with the five-year average of 62%-with colder temperatures and reduced wind power production that increased the dependence of gas. While the current levels are manageable, lower inventory can complicate the summer reconstruction efforts as EU nations must reach 90% capacity in November.

Additional supply risks persist, with Malaysian exports interrupted by floods and Nigerian pipeline waterism that slows down shipments. As a result, Europe is expected to rely strongly on LNG Import in the coming months.