Natural gas market to be quite bearish

The natural gas market is quite bearish, with healthy storage levels, elevated U.S. production and a generally subdued environment for energy commodities keeping prices under the US$3 per MMBtu mark. 

Going forward, the upside for natural gas prices is limited, as the market dynamics are unlikely to change much in the near term. Seasonal demand increases should drive natural gas prices higher by the end of this year, but they will likely remain below US$3.50 per MMBtu, says TD Economics.