The post Natural Gas futures have reached fair value with Europe securing supply appeared on BitcoinEthereumNews.com.

Natural Gas receives technical rejection on the topside after attempts to break higher.  European Gas reserves are 93% full while the Russian transit deal ends.   The US Dollar Index eases after the Fed delivers a 50 basis point rate cut with more to come.  Natural Gas futures trade flat on Thursday after the recent rally, which brought prices to a fair value point. On the one hand, Europe is bracing for a cold spell where temperatures are set to drop below averages. On the other hand, the recent pager and walkie-talkie bombing from Hamas members by Israel is a setback for any peace deal or ceasefire in the region.  Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, is on the back foot after the US Federal Reserve (Fed) delivered a 50 basis point (bps) interest rate cut. In its forecast, the central bank projected another 50 bps rate cut to take place by the end of 2024. Equities are having a field day on the back of this and are rallying across the globe while the Greenback is dipping lower against nearly every major currency.  Natural Gas is trading at $2.56 per MMBtu at the time of writing.   Natural Gas news and market movers: Europe gears up for first test of consumption European weather will come to the forefront in the coming weeks and months, with projected temperatures quite below the normal averages, Bloomberg reports. Uniper CEO Michael Lewis reported that Europe is well equipped to continue without the Russian gas supply, Bloomberg reports. On December 31, Austria and Slovakia will see the Russian gas flow running through Ukraine end as the transit deal will not be renewed or prolonged.  The International Energy Agency (IEA), meanwhile, is also planning to end Russian gas…

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Filed under: News - @ September 19, 2024 11:28 am