Â
Natural gas prices continued to rise on Friday for a second day, after the EIA report for natural gas stockpiles showed on Thursday a less than expected rise, as traders speculated that natural gas inventories will decline in comparison to the 5-year average, while also predictions of warmer conditions supported prices on expectations demand for power-plant fuel will increase.
The EIA report for natural gas stockpiles showed that natural gas inventories increased by 31 billion cubic feet, compared with median estimates of 37 billion cubic feet, and the prior rise of 47 billion cubic feet.
Natural gas prices will probably continue to rise next week, where expectations of warmer weather conditions could push natural gas prices higher.
Originally posted here
Read more about commodities technical analysis, commodities fundamental analysis and commodities news on CommoditiesMansion.com
About CommoditiesMansion.com:
www.CommoditiesMansion.com is a part of the Finance Mansion Network which operates global financial websites. Our goal is to provide our readers with the most accurate, quality and up-to-date technical analysis, fundamental analysis and news in order to assist them in making the right financial decisions.
The Finance Mansion Network includes www.FinanceMansion.com,www.ForexMansion.com, www.StocksMansion.com, www.CommoditiesMansion and many more.
