Natural gas prices fell last week on moderate weather conditions, which pushed natural gas prices lower on expectations of falling demand for power-plant fuel. Moreover, The EIA report showed that natural gas stockpiles increased last week by 97 billion cubic feet, compared with median estimates of 98 billion cubic feet, and above the five-year average for the week, which also put natural gas prices under negative pressure.
Traders are speculating that supply of natural gas will reach a record high before the winter season begins, and that should add more negative pressure on natural gas prices next week.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday October 13:
At 14:30 GMT, The EIA will release the weekly natural gas storage change for the week ending October 07, where the prior report showed that natural gas inventories increased by 97 billion cubic feet.
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