Natural gas prices have recently experienced a significant rise, with Friday’s trading marking the highest levels since late June. This upward movement comes as a notable rebound from the lows observed in August, indicating a strong recovery in the market.
Despite the recent surge, there is potential for further gains in the medium term. Market indicators suggest that prices could reach the 3050.00 level, a key figure previously hit in January and May. This outlook suggests a sustained upward trend as natural gas continues to strengthen.
In contrast, sellers have struggled to gain momentum over the past few days. A more bearish scenario would require a close below the 2450.00 level, which would signal the possibility of short-term weakness in the market. Until that threshold is crossed, the natural gas market appears to be on a strong upward trajectory.
The current rise in natural gas prices reflects a promising recovery with the potential for continued growth.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.
