Analysis and Recommendations:
Natural Gas climbed to 2.47 as speculators pushed up markets on hopes that the unseasonably higher temperatures in the US Midwest would reduce some of the excessive inventory.
Gas futures prices are trading below $2.448/mmbtu with gain of more than 0.60 percent. Currently, the storage level is at 2815BCF, positioned storage volumes 732 Bcf above year ago levels. In the coming week, also the injection level is likely to increase on the back of rising supply and lower demand, which may weigh on gas prices. On the other side, as per National Hurricane Centre, weather condition is expected to remain hot, which may pull demand from residential sector.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Natural Gas Weekly Update
Release Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
Weekly Natural Gas Storage Report
Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)