MTECHTIPS;-Natural Gas Price Fundamental Weekly Forecast – Heightened Volatility Indicated but Short-Squeeze May Be Over

MTECHTIPS;-Natural Gas Price Fundamental Weekly Forecast – Heightened Volatility Indicated but Short-Squeeze May Be Over

MTECHTIPS-Natural gas futures finished higher last week after posting a pair of the most volatile consecutive daily price swings in its history. Buyers stepped in at the end of the week after a double-digit price surge on Wednesday and a double-digit plunge on Thursday. To recap this week’s events, the market started firm as forecasts continued to call for cold weather until at least November 25. The market was also underpinned by historically low stockpiles. A short-squeeze spiked the market higher, producing the biggest one-day rally in 14 years and the highest closing price since 2014. This was followed by the sharpest one-day decline since February 2003. Last week, January Natural Gas futures settled at $4.291, up $0.570 or +15.32%. Outside factors also contributed to the wild price action. There is speculation that the hedge funds that had been long crude oil and short natural gas for the winter were forced to liquidate their positions to meet margin calls and end-of-the-year redemptions

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