As soon as Goldman Sachs gets bullish on natural gas, new weather models are forecasting warmer weather trends for the next two weeks. As a result, NYMEX Henry Hub natgas February futures have plunged 5% Tuesday morning. The plunge in natgas futures come on milder forecasts for the US, which means heating demand will wane over the next two weeks than previously expected.
"That decline came even though liquefied natural gas (LNG) exports remained near record levels and last week's storage draw was slightly bigger…Natural Gas Prices Plunge On Warmer Weather Trends
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