By FXEmpire.com
Natural Gas Fundamental Analysis April 2, 2012, Forecast
Analysis and Recommendations:
Natural Gas hovered at a 10-year low, losing less than one cent to trade at $2.15 per btu.
A larger-than-expected increase in supplies took futures on Thursday to their lowest settlement in 10 years.
U.S. government data showed a larger-than-expected inventories increase for the week ended March 23. The U.S. Energy Information Administration reported an increase of 57 billion cubic feet. Analysts surveyed by Platts had expected a net injection between 43 bcf to 47 bcf for the week.
Winter has ended lowering demand and leaving an excess supply. NG is looking for a bottom and it was expected to be in the 2.32 range, but with large of an increase in storage, there will be little need for any additional production.
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
