Natural Gas prices (XNG/USD) jumped this Monday back above $1.80 as Asian traders appear to be operating again in the European Gas futures market.
Natural Gas prices are popping back above $1.80. Asian Gas traders are flocking into the European market, creating an imbalance between buyers and sellers. The US Dollar Index trades in the mid-103.00 range ahead of two big central bank meetings. Natural Gas prices jumped this Monday back above $1.80 as Asian traders appear to be operating again in the European Gas futures market.
Meanwhile, Asian traders are buying up currently cheap-priced Gas contracts on the European market, which could leave Europe behind with elevated prices ahead of the next heating season. On the upside, the key $2.00 level needs to be regained first. The next key level is the historic pivotal point at $2.12, which falls broadly in line with the 55-day Simple Moving Average at $2.09.
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