Natural gas prices rose last week, as colder than expected weather conditions boosted speculations of rising demand for natural gas as a heating fuel. While the EIA report showed natural gas inventories decreased by 76 billion cubic feet, below estimates of a decrease by 78 billion cubic feet.
Traders will be focused on the weather forecasts, where cold weather conditions are expected to boost demand for natural gas, pushing prices higher accordingly, since demand for heating fuel would amplify as a result, but the fact that inventories are approaching a record high could still lead prices to show some volatility over the next week.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday December 12:
At 15:30 GMT, The EIA will release the weekly natural gas storage change for the week ending January 06, where the prior report showed that natural gas inventories decreased by 76 billion cubic feet.