By FXEmpire.com
Natural Gas Fundamental Analysis March 26, 2012, Forecast
Analysis and Recommendations:
Natural Gas continues to find a level to sit at trading at 2.272 up +.003. With winter officially over and inventories higher then estimate, NG will remain on the bottom, our outlook has been and will remain between 2.32-2.36.
The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended March 16 rose by 11 billion cubic feet, after declining by 64 billion cubic feet in the preceding week.
Analysts had expected U.S. natural gas storage to rise by 10 billion cubic feet.
Inventories fell by 20 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a decline of 17 billion cubic feet, according to U.S. Energy Department data.
It was the earliest seasonal increase in stored supplies since 2007.
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
