By FXEmpire.com
Natural Gas Fundamental Analysis April 10, 2012, Forecast
Analysis and Recommendations:
Natural Gas continues to fall trading at 2.086 down 0.004.
Natural gas prices continue under heavy selling pressure during the session as the bearish sentiment on the heating fuel remained intact amid ongoing concerns over elevated U.S. storage levels.
Weekly storage data from the U.S. released last week showed that natural gas storage in the U.S. rose by 42 billion cubic feet last week, the third consecutive seasonal injection of natural gas for the year.
Total U.S. natural gas storage stood at 2.479 trillion cubic feet as of last week, 56% above year-ago levels and 61% higher than the five-year average for this time of year.
Let’s face it winter is over, spring is forecast to be near perfect and summer is far away, unless someone comes up with a new way to use gas the supply exceeds the demand.
Economic Events: (GMT)
WEEKLY
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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
