Long
Natural Gas Long
On the natural gas front the market is playing the weather card of cold weather to some areas in the U.S. to milder winter temperatures for the next 5-10 days in other spots. We have the EIA Gas Storage this morning and the Thomson Reuters weekly poll with 17 analysts participating have estimates of withdrawals ranging from 158bcf to 118bcf with the median decrease of 135bcf. If analyst is correct the industry is definitely looking at the tea leaves of the next administration if they will be more friendly to fossil fuels than advertised. Tracking weather modules and everything else starting the year has some traders in doubt. And talk of a hot dry summer some weather modules are pointing to, this could be a wild ride in 2021. In the overnight electronic session, the February natural gas is currently trading at 2.712
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.