The natural gas market extended its upward momentum throughout June, with the front-month futures climbing above the $3.3 per gallon level for the first time since November 2020, amid higher heating demand and tighter supplies. As for storage, the Energy Information Administration reported a 98 Bcf injection into inventories for the week ending June 4.
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 June of 2021.
Natural gas is expected to trade at 3.07 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 2.58 in 12 months time.