Natural gas prices fell last week, as warmer than expected weather conditions boosted speculations of falling demand for natural gas as a heating fuel. While the EIA report showed natural gas inventories decreased by 87 billion cubic feet, above estimates of a decrease by 85 billion cubic feet. Nonetheless, natural gas prices finished the week lower despite rising on Thursday.
Traders will be focused on the weather forecasts, where warm weather conditions are expected to weigh down on demand for natural gas, and that could push prices lower, since demand for the heating fuel would decrease as a result.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday December 26:
At 15:30 GMT, The EIA will release the weekly natural gas storage change for the week ending January 20, where the prior report showed that natural gas inventories decreased by 87 billion cubic feet.