Natural Gas Hits New Lows Despite Bullish Report

21 Dec in Blog, commodity consulting, commodity trading, crude oil futures, futures trading, heating oil futures, natural gas futures, option trading, seeryfutures, unleaded gasoline futures

Natural Gas Futures--- Natural gas futures in the February contract are trading lower for the 3rd consecutive session lower by another 3 points at 2.61 and traded as low as 2.56 before the inventory report which was released stating that working gas in storage was 3,444 Bcf as of Friday, December 15th, 2017, according to EIA estimates.

This represents a net decrease of 182 Bcf from the previous week as stocks were 183 Bcf less than last year at this time and 84 Bcf below the five-year average of 3,528 Bcf.

I continue to look for a bullish position here as I thought prices could go down to the 2.50 level in my last blog as I think that is still a possibility in tomorrows trade, but we are very close to initiating a bullish trade as the risk/reward is starting to become into your favor as prices are getting very cheap as we enter the highly volatile winter season of January and February.

Exceptionally warm temperatures are the main culprit as prices continue to move lower as were 45° in Illinois once again today, however we are going to drop tremendously this Christmas weekend as I think all of the bad news has already been reflected in the price so keep a close eye on this market as I could be initiating a bullish trade possibly tomorrow.





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