NG trends lower as surplus is recorded today.NG will continue to record surpluses as a record amount of new wells are producing record amounts of NG so a downtrend is expected to continue as cooler weather gives breaks to 100+F across the States. Once Europe has filled all their underground winter storage units which are at 70% filled NG prices will drop dramatically. Plus Germany among other European countries is switching to coal from NG and Germany alone has restarted 10 coal-burning plants with another 12 which were slated to shut down as they switched to cleaner NG will remain running on coal reducing demand from Russia. China has also been exploring Oil and NG and has discovered its first offshore shale Oil and NG reserve which the government will expand on with additional drilling rigs. NG will be at $4 by the start of 2023.
https://oilprice.com/Latest-Energy-News/World-News/China-Claims-First-Offshore-Shale-Oil-And-Gas-Discovery.html
Todays NG Inventory Numbers 