Bearish NYMEX Natural Gas currently 18 cents lower after trading as high as $3

Published: January 26 2023, 07:26 GMT+0

Bearish NYMEX Natural Gas currently 18 cents lower after trading as high as $3

Natural Gas is down to $2.89 per MMBtu, after ending yesterday at $3.07. Overall, a 5.87% loss or 18 cents today.

Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

Meanwhile, United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. United States Cushing Crude Oil Inventories released yesterday at 15:30 UTC with a figure of 4.27 million, while the previous figure was 3.65 million.

Around the markets, mixed performances are seen by Energy as Crude Oil moves 0.25% to trade around $80.35.

With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Core Durable Goods Orders projected to come out at -0.2% — worse than previous data of 0.1%; data will be released today at 13:30 UTC.

Moreover, United States Pending Home Sales is projected to outperform its last figure with -0.9%, having previously been at -4%. The figure will be published tomorrow at 15:00 UTC.

Furthermore, United States Core PCE Price Index (MoM) (Dec) will be released tomorrow at 13:30 UTC.

The commodity has been trending lower for about a month. This year has been a gloomy one for NYMEX Natural Gas after trading as high as $9.68 and going on to lose 26.15% of its value.

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