May 01  Natural Gas Forecast
ETF Commodities
[{'start': '4.240', 'end': '10.240', 'text': 'US natural gas futures climbed toward $3.40,\xa0\nnearing three-week highs, while traders awaited'}, {'start': '10.240', 'end': '15.360', 'text': 'the delayed weekly storage report from the\xa0\nEIA. The data was published approximately'}, {'start': '15.360', 'end': '20.160', 'text': 'three and a half hours later than usual, but as\xa0\nof Thursday afternoon, the reason for the delay'}, {'start': '20.160', 'end': '26.080', 'text': 'remained unclear. Nevertheless, bulls used the\xa0\ndelay as an opportunity to push prices higher,'}, {'start': '26.080', 'end': '32.160', 'text': 'even though the report was extremely bearish,\xa0\nshowing a build of 107 Bcf, nearly double the'}, {'start': '32.160', 'end': '38.880', 'text': 'five-year average of 58 Bcf. Moreover, the recent\xa0\nprice spike appears even more questionable given'}, {'start': '38.880', 'end': '45.840', 'text': 'that the storage deficit of 44 Bcf has flipped to\xa0\na 5 Bcf surplus, which is certainly not a bullish'}, {'start': '45.840', 'end': '53.760', 'text': 'development, and is projected to widen rapidly to\xa0\n118 Bcf by mid-May. At the same time, US marketed'}, {'start': '53.760', 'end': '60.640', 'text': 'gas production remains at a record high of 119.6\xa0\nBcf per day, while total demand lags behind at'}, {'start': '60.640', 'end': '67.920', 'text': 'just 96 Bcf per day. Looking ahead, meteorologists\xa0\nprojected temperatures in the United States would'}, {'start': '67.920', 'end': '74.000', 'text': 'remain mostly warmer than normal through May 16.\xa0\nAnalysts suggest continued mild weather and high'}, {'start': '74.000', 'end': '79.280', 'text': 'output could lead to record injections in May.\xa0\nBullish traders seem to be clinging to the hope'}, {'start': '79.280', 'end': '84.400', 'text': 'that elevated natural gas exports will maintain\xa0\na storage deficit, but reality tells a different'}, {'start': '84.400', 'end': '90.000', 'text': 'story. Storage levels are rising quickly, and\xa0\nproducers are more than willing to ramp up output'}, {'start': '90.000', 'end': '96.160', 'text': 'now that prices have climbed above the $2.50\xa0\nprofit threshold. Without extreme heat this summer'}, {'start': '96.160', 'end': '101.040', 'text': 'to absorb the excess supply, the market could be\xa0\nheaded for a sharp correction, as even the most'}, {'start': '101.040', 'end': '107.440', 'text': "stubborn bulls won't be able to ignore the growing\xa0\nstorage surplus. Natural gas extended its strength"}, {'start': '107.440', 'end': '113.280', 'text': 'on Thursday, continuing the counter-trend rally\xa0\nthat began on Monday. However, this move remains'}, {'start': '113.280', 'end': '118.080', 'text': 'within the broader framework of a bearish trend,\xa0\nand prices are now approaching multiple potential'}, {'start': '118.080', 'end': '124.640', 'text': 'resistance zones. Despite briefly touching a\xa0\none-week high of $3.53 earlier in the session,'}, {'start': '124.640', 'end': '130.480', 'text': 'futures retreated to around $3.44, as the market\xa0\nlooks for a catalyst to push toward resistance'}, {'start': '130.480', 'end': '137.040', 'text': 'near $3.50. How the market reacts at these\xa0\nlevels could offer important clues about the next'}, {'start': '137.040', 'end': '142.560', 'text': 'direction. Adding to the uncertainty are growing\xa0\nconcerns that the US economy may be slipping into'}, {'start': '142.560', 'end': '147.440', 'text': 'a recession, an outcome that could weigh heavily\xa0\non natural gas demand, particularly through'}, {'start': '147.440', 'end': '154.160', 'text': 'reduced electricity generation. All eyes are\xa0\nnow on the critical $3.17 level; if that support'}, {'start': '154.160', 'end': '158.880', 'text': 'fails, it could trigger a fresh wave of selling,\xa0\npushing prices down toward the next major support'}, {'start': '158.880', 'end': '167.120', 'text': 'near $2.90. Please like, subscribe, and comment\xa0\nto support the channel. See you in the next one.'}]