By FXEmpire.com
Analysis and Recommendations:
Natural Gas futures advanced to a fresh 2-month high on Friday, driven by expectations that demand in the beaten-down market is recovering. Prices are up 32% from 10-1/2 year low. The number of rigs actively exploring for oil and natural gas in the US was up by 9 last week to 1,974. 1,372 rigs were explored for oil & 598 for gas while 4 were listed as miscellaneous, as per Houston-based oilfield Services Company Baker Hughes Inc. Natural Gas is trading at 2.446 down just a few pips as investors cashed in after picking up the commodity at 10 year lows just a few days ago when gas was trading under the 2.00 price.
Speculators are continuing to keep the prices elevated hoping that this week’s inventory shows a reduction in inventory. As per the Midwest Weather Channel, weather is expected to remain warmer than normal for couple of weeks, which may support gas demand to rise.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports, which cover the current week and are published by Sunday before the new week begins.
WEEKLY
- 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) 
Click here for further Natural Gas Forecast.
Originally posted here
