US Natural Gas set for weak finish today; down 7.83% to $3 per MMBtu with 38 minutes before close

Published: January 25 2023, 22:21 GMT+0

US Natural Gas set for weak finish today; down 7.83% to $3 per MMBtu with 38 minutes before close

Natural Gas is grinding lower from $3.26 to $3 per MMBtu, shedding 25.8 cents (7.83%) 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 today at 18:00 UTC with a figure of 3.53, while the previous figure was 3.973. Fresh Cushing Crude Oil Inventories data from United States came out at 4.27 million.

In the meantime, negative performances are also seen in other Energy as Heating Oil is down 6.8 cents from the beginning of the session and now trades around $3.36.

At the same time, Crude Oil moves 0.39% to trade around $80.44.

Looking ahead, ongoing depreciation may be prolonged as United States Core Durable Goods Orders expected to decline to -0.2% while its preceding data was 0.1%, data will be available tomorrow at 13:30 UTC. As things stand, upcoming United States GDP data is projected to fall short of market expectations with newly published data of 2.6, following on from the preceding figure of 3.2. New data is set to be published tomorrow at 13:30 UTC. United States Initial Jobless Claims projected to decline to 205,000 while previous data was 190,000; data will be released tomorrow at 13:30 UTC.

The commodity has been trending lower for about a month. US Natural Gas is up 4.06% from the significant low of $3.13 it hit 3 days ago.

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