Commodities
Natural Gas Prices poised for bounce off historic lows
Natural Gas has been trading at historic lows, with prices reaching 70% below its August 2022 peak of $9.75.
The CFTC Commitment of Traders report shows commercial hedgers accumulating long positions aggressively, indicating a bullish extreme in the market.
A high-quality demand zone sits at $2.20 on the weekly chart, which is the level to watch according to the source.
Summer cooling demand is about to ramp up, with utilities beginning to hedge their fuel costs months in advance, and LNG export capacity continuing to expand, creating a structural price floor.