EPIC RESEARCH MCX NATURAL GAS UPDATE OF 16 AUGUST 2017

Naturalgas trading range for the day is 184.4-195.8. Natural gas prices dropped as traders booked their long positions and prices were unable to hold on to gains made early in the session.This comes despite NOAA forecast that shows that the weather is expected to be warmer than normal over the next 2-weeks, which should drive up cooling demand. Total natural gas in storage currently stands at 3.038 trillion cubic feet, according to the US EIA, 8.3% lower than levels at this time a year ago.



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