By FXEmpire.com

Natural Gas Fundamental Analysis April 23, 2012, Forecast

Natural Gas Fundamental Analysis April 23, 2012, Forecast

Analysis and Recommendations:

Natural Gas continues to stay at a 10 year low trading at 1.917 up 0.010. There was little news today to help move the commodity up.

Demand is down, supply is up and there isn’t much that can be done.

As reported earlier this week -The underground natural gas storage (Billion Cubic Feet) increased for the fourth consecutive week; last week the storage levels increased by 1.01% or by 25 Bcf; the natural gas storage settled at 2,512 billion cubic feet for all lower 48 states; the current natural gas storage is 57.7% above the 5-year average, and is also 53.1% higher than the storage at the same week in 2011. As a comparison, during the same week in April 2011 the total natural gas injection was 47 Bcf. This means that the current injection was smaller than a year earlier so perhaps there is an adjustment to the high storage levels.

The increase in storage was primarily because of a 13 Bcf injection from the Eastern consumption region natural gas storage.

Economic Events: (GMT)

WEEKLY

Click here for updated Natural Gas News.

Originally posted here