Natural Gas Fundamental Analysis April 19, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

Natural Gas moved up today to 1.984 still under the 2.00 price level. Natural gas futures prices fell by more than 3 percent both in NYMEX platform and MCX platform. Concern of lower demand due to mild weather condition, might have pressurized gas futures prices. In addition to it, higher level of production is having a bearish impact on gas prices. Today, we may expect gas prices to continue the bearish trend driven by the unchanged fundamentals of higher production level, ahead of US Energy department inventory tomorrow.

Chesapeake Energy came under the spotlight today, as it seems the CEO borrowed over 1.1 billion dollars that was never made public. Shares of the largest natural gas producer in the US dropped by 9%

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