By FXEmpire.com

Analysis and Recommendations:

Natural Gas climbed today, trading at 2.24 adding 0.025. as investors anticipated a lower inventory this week and reduced production with a few wells closing down.

Also the national weather forecast, is calling for higher temperatures for the next two weeks which will increase electricity needs and hopefully turn to NG for production.

Natural gas demand is expected to increase on account of warmer weather expectation. As per US weather channel, weather is likely to remain seasonably warmer which may not pull demand of gas and ultimately weigh on prices. Currently, the storage level is at 2877 BCF, positioned storage volumes 732 Bcf above year-ago levels. In the coming week, also the injection level is likely to increase on the back of rising supply and lower demand, which may weigh on gas prices. Also as per National Hurricane Centre, as of now there is no tropical storm formation is seen in North Atlantic region.

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

Click here a current Natural Gas Chart.

Originally posted here