Analysis and Recommendations:
Natural Gas added a few pips on the hopes of reduced inventories in tomorrow’s report. Gas futures prices are trading almost flat at $2.466/mmbtu. The International Energy Agency(IEA) said US is expected to surpass Russia by increasing its gas production by 2017.Thus, gas prices may take some positive cues on expectation of rising demand in future. 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 but in a slower pace by 60 BCF, which may add some points on higher side today. 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.