By FX Empire.com
Natural gas prices fell last week on speculations that natural gas stockpiles are approaching a record set last year ahead of the winter season and on signs economic growth is picking up some momentum. While the EIA report showed natural gas inventories increased by 37 billion cubic feet, slightly above estimates of 32 billion cubic feet.
Traders will be focused on the weather forecasts, where cold weather conditions are expected to boost demand for natural gas, pushing prices higher accordingly, since demand for heating fuel would amplify as a result, but the fact that inventories are approaching a record high could still lead prices to show some volatility over the next week.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday November 17:
At 15:30 GMT, The EIA will release the weekly natural gas storage change for the week ending November 11, where the prior report showed that natural gas inventories increased by 37 billion cubic feet.
Originally posted here
