Natural Gas Prices Face More Selling Pressure as Temperatures Rise
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Natural gas futures are under selling pressure as warm weather is expected to persist through February, leading to a drop in prices. On February 18, prices fell to an intraday low of 2.922, marking a 30% decline since January. The warm temperatures are likely to reverse recent inventory withdrawals, with stock levels dropping below the five-year average. The market anticipates a slowdown in withdrawals as the heating season ends, and a significant cold snap is needed to sustain demand. Technical indicators suggest further downside potential for natural gas prices.
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