Natural gas futures sank to below $2.3/MMBtu at the end of 2020, its lowest level since September 25th, on the back of mild temperatures and light heating demand. Also, EIA data showed working gas held in storage facilities in the United States decreased by 152 billion cubic feet in the week ending December 18th, less than market expectations. Natural gas is down more than 30% since hitting a 22-month high of $3.354/MMBtu on October 30th, as temperatures across most of the US have been above average since November.
Historically, Natural gas reached an all time high of 15.78 in December of 2005. Natural gas - data, forecasts, historical chart - was last updated on December of 2020.
Natural gas is expected to trade at 2.16 USD/MMBtu by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.81 in 12 months time.