Natural gas trading range for the day is 210.8-220.8

Natural gas on MCX settled up 2.75% at 217 on forecasts for much colder weather and more heating demand than previously expected for the rest of January. Meteorologists said the weather would remain seasonally cold through Jan. 18 before turning extremely frigid during the following week.

 

With more cold coming, Refinitiv projected demand for gas in the Lower 48 states would rise to 116.7 billion cubic feet per day (bcfd) next week and 124.5 bcfd in two weeks from just 104.3 bcfd during the warmer-than-usual weather this week.

Trading Ideas:

* Natural gas trading range for the day is 210.8-220.8.

* Natural gas gained on forecasts for much colder weather and more heating demand than previously expected for the rest of January.

* Meteorologists said the weather would remain seasonally cold through Jan. 18 before turning extremely frigid during the following week.

* Gas output in the Lower 48 has averaged near a record high of 86.7 bcfd over the past 30 days.

Commodity Mcx Live Price