Natural Gas Fundamental Analysis February 16, 2012, Forecast
Economic Events: (GMT)
WEEKLY
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This Week in Petroleum
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Gasoline and Diesel Fuel Update
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Weekly Petroleum Status Report
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Heating Oil & Propane Update (October-March)
Heating Oil, Propane Residential and Wholesale Price Data
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Coal News & Markets
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Natural Gas Weekly Update
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Weekly Natural Gas Storage Report
Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)
Analysis and Recommendations:
Natural Gas is down after opening at 2.544 NG has dropped to 2.429.
As the winter days wind down and as weather forecasters continue to be wrong about cold fronts hitting the North East and worries about inventories due on Thursday, investors were selling as NG kept searching for a bottom. It is destined to find that 2.36 level of earlier this month.
Yesterday Chesapeake Energy announced it would be selling off appx 12billion dollars of assets. NG is predicted to be the energy of the future, replacing coal, but that is still along way off, their might be future demand but at present there is little demand for available inventories.
Originally posted here
