By FXEmpire.com
Natural Gas Fundamental Analysis April 9, 2012, Forecast
Analysis and Recommendations:
Natural Gas fell 5 cents, or 2.4%, to end at $2.09 per million British thermal units, their lowest settlement since early February 2002.
The Energy Information Administration reported an increase of 42 billion cubic feet in supplies of natural gas for the week ended March 30. Analysts expected an increase of 33 to 37 bcf, according to Platts.
They had traded at $2.14 per million Btus before the data. The settlement brought weekly losses to 1.9%.
Speculators expect prices at $2 before long. Increases in supplies will become steeper in the weeks ahead, “with no real demand coming to help.
Natural-gas futures have suffered from warmer weather and increased production. Prices had settled at 10-year lows in recent sessions.
Economic Events: (GMT)
WEEKLY
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Weekly Natural Gas Storage Report
Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)
Originally posted here
