Natural Gas Fundamental Analysis March 23, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

Natural Gas continues to decline, dropping at 2.268 from 2.349 after the EIA weekly inventory report.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended March 16 rose by 11 billion cubic feet, after declining by 64 billion cubic feet in the preceding week.

Analysts had expected U.S. natural gas storage to rise by 10 billion cubic feet.

Inventories fell by 20 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a decline of 17 billion cubic feet, according to U.S. Energy Department data.

Winter officially ended this past Tuesday and with higher than expected inventories, Gas will continue to bottom out. And then hibernate till next winter.

Economic Events: (GMT)

WEEKLY

• Heating Oil & Propane Update (October-March)
  Heating Oil, Propane Residential and Wholesale Price Data
  Release Schedule: Wednesday at 1:00 p.m. EST
• Weekly Coal Production
  Release Schedule: Thursday by 5:00 p.m. EST
• Weekly NYMEX Coal Futures
  Release Schedule: Monday by 5:00 p.m. EST
• 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)

Originally posted here