Natural Gas Price Fundamental Daily Forecast - Test of $3 691-$3 568 May Attract Last Wave of Summer Buyers fxempire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxempire.com Daily Mail and Mail on Sunday newspapers.
Natural gas futures pulled back in early trading Tuesday as forecasts showed cooler temperatures to close out the month, and as analysts pointed to signs
Natural Gas Futures Jumpy Early as Balances Said Tight; Forecasts Trend Cooler naturalgasintel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naturalgasintel.com Daily Mail and Mail on Sunday newspapers.
Natural Gas Futures Maintain Upward Momentum Early as Cooler Temperatures in Sight
Natural gas futures extended their recent gains in early trading Tuesday amid continued expectations for chilly temperatures over the next week and a half. After picking up 3.5 cents in the previous session, the May Nymex contract was up another 3.0 cents to $2.591/MMBtu at around 8:50 a.m. ET.
The overnight run of the American Global Forecast System (GFS) added heating demand during the April 20-22 time frame, while the European model was milder trending for April 20-26 by showing less cold over the Great Lakes and Northeast, according to NatGasWeather.
The natural gas storage report from the EIA for the week ending January 29th indicated that the amount of natural gas held in underground storage in the US fell by 192 billion cubic feet to 2,689 billion cubic feet by the end of the week, which left our gas supplies 41 billion cubic feet, or 1.5% higher than the 2,648 billion cubic feet that were in storage on January 29th of last year, and 198 billion cubic feet, or 7.9% above the five-year average of 2,491 billion cubic feet of natural gas that have been in storage as of the 29th of January in recent years..the 192 billion cubic feet that were drawn out of US natural gas storage this week was a bit less than the average forecast of a 195 billion cubic foot withdrawal from an S&P Global Platts survey of analysts, but more than the 155 billion cubic foot withdrawal from natural gas storage seen during the corresponding week of a year earlier, and also more than the average withdrawal of 146 billion cubic feet of natural gas that have