By FXEmpire.com
Analysis and Recommendations:
Natural Gas was the surprise of the day and of the week moving up to trade at 2.675 adding 0.082.
I will be honest with my readers, I have looked and searched trying to find a reason to justify the current rise in price in natural gas, I cannot. I have looked for reduced production, I have reviewed inventories, I have looking into new uses and increased demand and I still cannot justify this week’s jump in prices.
I know several companies are working at ways to export NG, which when completed will increase demand and drive price but that is years away. I know several producers are reducing production but there is little demand and ample inventory.
Two sources are reporting that lower inventories are driving the prices, but inventory was lower the forecast but still very high.
If you know of a valid reason please share it with me.
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
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Originally posted here
