By FXEmpire.com
Analysis and Recommendations:
Natural Gas dipped in today’s session as investor took large profits. Gas prices to continue the positive trend supported by its intrinsic fundamentals. EIA have projected that consumption of natural gas in the electric power sector will grow by 21 percent in 2012, primarily driven by the increased relative cost advantages of natural gas over coal for power generation.
Cooling demand in the US may be 20 percent above normal from july25 through 29, data from Weather Derivatives in Belton, Missouri show. The dry soil of the Midwest will help make the summer of 2012 one of the three warmest in the US and southern Canada since 1950, according to AccuWeather. As per US Energy department, natural gas storage has increased by 28 BCF in the last week, lower than expectation which may continue to support gas prices. However, demand has been declined by more than 1.5 percent in the last week, highly contributed by power sector. This may limit the gains in prices
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.
WEEKLY
- 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)
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Originally posted here
