By FX Empire.com
Natural gas prices fell last week, as natural gas stockpiles hit a record high above last year’s record ahead of the winter season. While the EIA report showed natural gas inventories increased by 19 billion cubic feet, slightly below estimates of 27 billion cubic feet.
Traders will be focused on the weather forecasts, where cold weather conditions are expected to increase demand for natural gas, and that could push prices higher, since demand for the heating fuel would increase as a result.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday November 23:
At 17:00 GMT, The EIA will release the weekly natural gas storage change for the week ending November 18, where the prior report showed that natural gas inventories increased by 19 billion cubic feet.
Originally posted here
