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 20 billion cubic feet, below estimates of a decrease by 12 billion cubic feet. Nonetheless, natural gas prices closed the week lower after rising on Thursday.
Traders will be focused on the weather forecasts, as 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 accordingly.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday December 15:
At 15:30 GMT, The EIA will release the weekly natural gas storage change for the week ending December 09, where the prior report showed that natural gas inventories decreased by 20 billion cubic feet.