• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy The price of natural gas is rising ahead of the coming storm
Economy

The price of natural gas is rising ahead of the coming storm

by September 13, 2024
by September 13, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The price of natural gas is rising ahead of the coming storm

U.S. natural gas prices rose about 4% on Tuesday as oil and gas producers cut output ahead of a hurricane expected to hit Louisiana on Wednesday

Natural gas chart analysis

U.S. natural gas prices rose about 4% on Tuesday as oil and gas producers cut output ahead of a hurricane expected to hit Louisiana on Wednesday. The price formed a new weekly high at the $2.42 level. During this morning’s Asian trading session, the movement took place around the $2.40 level. The bullish sentiment still prevails on the chart, based on which we expect to see further growth and the formation of a new weekly high.

Potential higher targets are $2.44 and $2.46 levels. For a bearish scenario, the price would have to pull back below the $2.40 daily open price first. Thus, we move to the bearish side and expect the formation of a new daily low. The first support is at $2.38 in the EMA 50 moving average. The inability to sustain natural gas there will lead to further withdrawals.

 

For the third week in a row, the price is in a bullish trend and above the EMA 200 moving average

Lower potential targets are the $2.36 and $2.34 levels. A bit further down in the $2.32 zone, we will test yesterday’s low and the EMA 200 moving average. This moving average, a steadfast support since the beginning of September, continues to bolster our confidence.

Finance company LSEG reported that gas production in the lower 48 US states averaged 102.2 billion cubic feet per day in September, a slight decrease from 103.2 in August. On a daily basis, production is expected to dip by 2.9  to a preliminary 16-week low of 99.9 bcfd on Tuesday. However, all eyes are on the impending storm that could potentially disrupt both supply and demand for natural gas, necessitating heightened vigilance and preparedness.

 

The post The price of natural gas is rising ahead of the coming storm appeared first on FinanceBrokerage.

You Might Also Like
  • Texas congressman pushes bill to vet taxpayer-funded migrant charities amid ‘explosion’ of migrant trafficking
  • Kansas man convicted of threatening to kill Republican congressman, could face 10 years in prison
  • PlayDoge Game – Get The Latest News and much more
  • Bitcoin & Ethereum Analysis: BTC Hits High, ETH Is Steady
Share
0
FacebookTwitterPinterestWhatsapp

previous post
SPWR Stock: Risks and Opportunities for Buyers and Sellers
next post
S&P 500 and Nasdaq close to erasing last week’s losses

You may also like

SafeMoon and Litecoin: New Support Levels and Targets

October 10, 2024

Trump roasts Biden with clip from Clooney movie after actor...

July 11, 2024

Sen Menendez charged with obstruction of justice in another superseding...

March 6, 2024

Speaker Johnson launches bipartisan artificial intelligence ‘task force’

February 21, 2024

House tees up vote to formalize Biden impeachment inquiry tonight

December 14, 2023

Israel stares down ‘ring of fire’ as Iran pledges retaliation

August 6, 2024

Biden tops Trump in new poll, but lead shrinks against...

February 1, 2024

Poll reveals alarming level of fear of whether 2024 elections...

January 5, 2024

South Carolina House passes teacher parental leave bill

April 6, 2023

Comer requests meeting with FBI director after refusal to produce...

May 24, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    North Dakota gov, former presidential candidate...

    May 12, 2024

    Bill Barr says Trump’s indictment is...

    June 12, 2023

    Biden expected to raise more than...

    December 6, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here