Natural gas on MCX settled down -1.4% at 176.1 on forecasts for continued warmer-than-normal weather over the next two weeks that is expected to keep both heating and cooling demand low. Market volatility has remained low since the weather started warming this spring – just like this time last year – amid a widely held belief that record and growing production will meet any increase in demand.
Trading Ideas:
* Natural gas trading range for the day is 172.7-181.1.
* Natural gas eased on forecasts for continued warmer-than-normal weather over the next two weeks that is expected to keep both heating and cooling demand low.
* Output in the Lower 48 states, meanwhile, edged up to 89.1 bcfd on Thursday from 89.0 bcfd on Tuesday and Wednesday
* Market volatility has remained low since the weather started warming this spring amid a widely held belief that record and growing production will meet any increase in demand.
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