Natural Gas Trapped in 2.60–3.00 Range as Oversupply Pressures Prices

Natural gas price tests the 50-day EMA near $2.90 as warm weather and a near-record storage build weigh on prices, leaving the market trapped in a $2.60–$3.00 range; with the EIA projecting storage at a 10-year high and dry gas estimates raised to about 116 bcf, a rally would require cooler weather and a breakout above resistance.