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Natural Gas Roars After Massive US Supply Drawdown From Winter Weather

From fxdailyreport.com

Natural gas futures have had an impressive start to 2024 after last year’s bear market. The energy commodity had crashed following a huge 2022-2023 rally, driven by record domestic production and higher winter temperatures. With Old Man Winter returning, investors have turned bullish on natural gas. Could prices remain above $3? February natural gas futures surged $0.074, or 2.44%, to 3.113 per million British thermal units (Btu) at 14:40 GMT on Thursday on the New York Mercantile Exchange. Natural gas prices are poised for a weekly gain of more than 9%, adding to their incredible year-to-date gain of about 25%. ... (full story)

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