Natural Gas Fundamental Analysis April 13, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

Natural Gas prices declined around 2.7 percent in today’s trading session on the back of expectations of rise in US natural gas inventories coupled with warm spring season. Gas prices slid below $ 2 level for the first time since January 2002 and closed yesterday at $1.973/mmbtu after touching an intra-day low of $ 1.972/mmbtu. In today’s session NG has moved up slightly to trade at $2.007 US Energy Information Administration (EIA) is scheduled to release its weekly inventories and US natural gas inventory are expected to increase by 22 billion cubic feet (bcf) for the week ending on 6th April 2012.

Expect natural gas prices to trade lower on account of expected rise in natural gas inventories coupled with warmer climate

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