NATGAS surged from a local low below $2.10/MMBtu to levels near $2.20/MMBtu. From the local low to the local high, the movement is more than 8%. Today NATGAS gained almost 5%. Most likely, this is the result of closing short positions at the end of the month and quarter. However, in the long term, the current movement is not very significant. Yesterday the fall in gas supply was too small to reverse the trend. A similar situation can be observed in Europe, where the TTF increases by 10%. This is also most likely due to month-end and quarter-end accounting.
Source: xStation5 by XTB
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