Natural gas prices appeared to fall in line with oil prices in the wake of Israel’s attack on Iran, but at the same time natural gas concerns about the volume of production relative to current demand.

That’s what Phil Flynn, a senior market analyst at PRICE Futures Group, told Rigzone on Tuesday when asked to explain the decline in US natural gas prices.

“The predictions of the very cold start to November also don’t seem to be coming true, so the heating demand that we thought we could get in November doesn’t seem likely to develop,” he added.

When asked to explain the drop in gas prices, Ed Morse, senior advisor at Hartree Partners, told Rigzone: “It’s a combination of circumstances.” He stressed to Rigzone that production is “increasing” and said the November weather for the US is now “much warmer than normal”.

In a market analysis sent to Rigzone today, Michael Brown, a senior research strategist at Pepperstone, said: “The geopolitical situation in the Middle East appears to have cooled significantly, with Israel’s retaliatory attacks on Iran over the weekend focusing on the military infrastructure and were avoided.” all oil, energy or nuclear installations”.

“It appears that the strikes were more of a ‘face-saving’ response, similar to that of April, and were not intended to cause a further escalation of tensions,” he added in the analysis, noting that “a significant degree of geopolitical risk premium was priced out of crude oil”.

In its latest Short-Term Energy Outlook (STEO), released earlier this month, the U.S. Energy Information Administration (EIA) projected that U.S. dry natural gas production will total an average of 103.5 billion cubic feet per day by 2024. In its previous STEO, released in September, the EIA forecast that U.S. dry natural gas production would average 103.4 billion cubic feet per day this year.

Flynn is described on the PRICE Futures Group website as “one of the world’s leading energy market analysts, providing individual investors, professional traders and institutions with up-to-date investment insight and risk management in the global oil, gasoline and energy markets.” Flynn is also a daily contributor to Fox Business Network, the site points out.

According to its website, PRICE Futures Group’s mission is to “provide traders and investors with leading trading solutions, informative market analysis and cutting-edge technologies that enable efficient decision making.”

Morse was previously Global Head of Commodity Research at Citi Group. Hartree Partners describes itself on its website as “a global energy and resources company with an international reputation for integrity”.

Brown is described on Pepperstone’s website as “a seasoned market analyst, with a track record of providing relevant commentary, analysis and forecasts across all major asset classes, primarily through a global macro focus, for almost a decade in the financial services industry.” Pepperstone Group describes itself as an award-winning online trading provider and one of the world’s largest MT4 brokers.

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