Gold Silver Reports (GSR) — Natural Gas on MCX settled down -0.54% at 200.80 dropped in the line of expectation on fresh selling for a 3rd consecutive trading session. Prices are giving back some of the gains experienced last week. This comes despite low inventory levels that have a flat trajectory and have a lot of stockpiles to make up prior to the withdrawal season.
The weather is expected to be warmer than normal over the next 8-14 days which should drive up cooling demand at the tail end of the summer cooling season. Production continues to remain buoyed which is keeping a lid on prices. There is no tropical cyclone weather expected in the Atlantic or Caribbean for the next 48-hours.
Meanwhile hot high pressure will dominate the southern and eastern halves of the country with highs of upper 80s to 90s again across the S. Great Lakes, Mid-Atlantic, and Northeast, including highs of mid-90s for Washington D.C. and NYC, driving strong national demand. – Neal Bhai Reports (NBR)
