NYMEX natural gas futures have been trading above $2.9/MMBtu since the last week of April, a level not seen since February, on bullish weather patterns as we move into the summer season. Supporting prices further was a smaller than expected increase in the amount of natural gas in storage for the seventh consecutive week.
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 May of 2021.
Natural gas is expected to trade at 2.80 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 2.36 in 12 months time.