Natural Gas Prices Soar on Forecasts of Cooler Weather and Increased Heating Demand
Natural gas prices rose on Monday.
Cooler Weather Forecasts Boost Natural Gas Demand
Forecasts of cooler temperatures drove prices up.
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Key Market Data:
- Natural gas prices rose 3.5% to $2.455/mmBtu
- US natural gas stockpiles fell 50 billion cubic feet
- Weather forecasts predict cooler temperatures
Market Outlook:
The current market sentiment is bullish for natural gas.
Technical Analysis: Natural Gas Prices
- Support levels: $2.35, $2.25
- Resistance levels: $2.55, $2.65
What’s Next for Natural Gas Prices?
Investors await weather updates.
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