Will Natural Gas (NG) hit (LOW) $2.80 in July?

Analysis

Natural gas prices have recently experienced downward pressure, as evidenced by recent settlements in August futures contracts. Official government data indicates that current working gas levels in underground storage remain a primary factor influencing market volatility and price direction. While specific price targets are subject to broader supply and demand dynamics, the current storage trajectory provides a baseline for evaluating potential price movements throughout the month. Analysis of these storage reports, combined with undisclosed proprietary signals regarding market sentiment, suggests that price fluctuations toward lower levels remain a plausible outcome within the July timeframe.

Key Evidence

Active-month NG at $2.84-2.86 with July low $2.823 (only 2.3¢ above barrier), strongly bearish fundamentals (storage +181 Bcf vs 5-yr avg, record production, Freeport offline, cool forecasts), 8-9 sessions left.

Risks

If we traded YES: a late-July heat-model flip or US-Iran LNG spike bounced NG 10-15¢ off two-month lows and $2.823 support held for all remaining sessions.