Natural gas futures fell below $2.50/MMBtu this week, a level not seen since October 7th, as warmer-than-normal weather forecasted for next week limited the demand. Bearish weather revisions, coupled with a smaller-than-projected withdrawal in US natural gas inventories, sparked a sell-off that left the benchmark with a loss of more than 9% for the week.
Historically, Natural gas reached an all time high of 15.78 in December of 2005. Natural gas - data, forecasts, historical chart - was last updated on December of 2020.
Natural gas is expected to trade at 2.36 USD/MMBtu by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.99 in 12 months time.