Natural Gas Fundamental Analysis Feb 1, 2012, Forecast
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Natural Gas Fundamental Analysis Feb 1, 2012, Forecast
Analysis and Recommendations:
Natural Gas is currently down at 2.502 after hitting a high of 2.842. Today is a simple case of profit taking as NG has cascaded up for a week, moving from 2.32 to 2.84. Natural gas continues its steep losses on warming weather trends and profit-taking after some recent gains. Losses topped 8% and prices traded at their lowest in a week and a half.
Natural-gas prices have closely tracked weather forecasts in recent weeks. Colder-than-normal winter temperatures increase the need for gas-fired electricity to heat homes, bolstering demand for natural gas. This is typically the coldest time in winter, but temperatures in the U.S. have yet to reach levels cold enough to boost demand for the heating fuel, keeping prices depressed at unseasonably low levels.
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