Natural gas continued the downtrend into June to trade below $1.8/MMBtu as liquefied natural gas exports dropped further, following a collapse in demand due to the economic impacts of Covid-19. The International Energy Agency expects global natural gas consumption to drop by a record 5% in 2020. Still, prices are anticipated to recover amid easing coronavirus-induced lockdowns and expectations for relatively hot summer that could lead to increased air conditioner use.
Historically, Natural gas reached an all time high of 15.78 in December of 2005. Natural gas - data, forecasts, historical chart - was last updated on June of 2020.
Natural gas is expected to trade at 1.70 USD/MMBtu by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.43 in 12 months time.