Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Why Are Natural Gas Prices Plunging?

ByDaniela Hathorn
Published 05/23/2023, 04:58 AM
Updated 05/07/2024, 03:49 AM

Natural Gas prices began this week with a drop, losing over 5% and trading for $2.5537/mmBtu. Last week was dominated by news of weak supply and low storage levels.

But a bearish sentiment has taken hold of markets on Monday, possibly driven by some profit-taking, as well as a forecast for warm weather that will arrive later than usual.

Natural gas traders are already focusing their analysis on the weekly EIA storage report from the EIA, where the impact of wildfires in Alberta, Canada, and lower wind energy production will become clearer.

Here's a detailed looking at natural gas news and chart analysis.  

Latest comments

This is not rocket science. Natural gas is used for heating and cooling. Prices drop when you don't need one or the other in May and June. Summer weather, hurricane season, and low inventory will tell a different story in August.
I doubt we'll see $2 again this year. I'm looking to accumulate on every dip lower.
I have noticed lately? NG up Oil down or NG down Oil up on the daily any reason why?
Natural gas does not have low storage levels. Thats why it went to 2
Wait until they put another 10 rigs on the ground? The expensive of consumbles for drilling vs 2.35 a BTU ?
buyers of physical natural gas are literally in crunch as prices are not rising and they are not making any profit which is unfair . storage of gas isnt possible with every human .
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.