Stock Tips: Natural Gas Trading Range - 171.8-182.2

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Natural Gas on MCX settled down -0.23% at 176.7 on expectations of light heating demand as weather forecasts showed milder weather over the next two weeks. Updated weather forecasting models showed that temperatures won't be as cold as previously expected through both the upcoming six- to 10-day and eight- to 14-day periods.

 

Trading Ideas: 

 

* Natural Gas trading range for the day is 171.8-182.2. 

 

* Natural Gas fell on expectations of light heating demand as weather forecasts showed milder weather over the next two weeks. 

 

* Projected U.S. gas consumption would fall to an average of 108.5 billion cubic feet per day next week from 114.2 bcfd this week. 

 

* Gas production had been recovering since the start of the year as warmer weather allowed frozen wells to thaw.

 

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