NYMEX Gas trades at $2.2 per MMBtu, after ending yesterday at $2.17.
United States Initial Jobless Claims is next today at 13:30 UTC.
NYMEX Natural Gas's state is reflected by market data as United States API Weekly Crude Oil Stock came out at 9.89 million, while a consensus of analysts was expecting 1.23 million. United States 5-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.109, while the previous figure was 3.53.
Technical analysis trend indicators suggest that the Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. According to asset volatility analysis, NYMEX Natural Gas's upper Bollinger Band® is at $2.68 and the lower is $2.09.
The current technical outlook indicates NYMEX Gas will continue to ebb sideways within tight ranges for the immediate future.
Meanwhile, mixed performances are seen in other Energy as Brent Crude Oil trades around $80.82, with no major change. Crude Oil moves 0.2% to trade around $74.1.
Data to be released later is expected to clarify investor sentiment while boosting price action volatility as today at 16:00 UTC data for United States Crude Oil Inventories will be released, with an expected decline to 2 million from the preceding figure of 16.28 million. United States Core PCE Price Index (MoM) (Jan) will be released tomorrow at 13:30 UTC. Today at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 194,000.
The commodity has been trending lower for about 2 months. US Natural Gas hit a significant low of $2.02 around 2 days ago, but has since recovered 7.62%.