By FX Empire.com
Natural gas prices rose last week on expectations of below-than average temperatures in the United States, which raised speculations of rising demand for natural gas as a heating fuel, and provided natural gas with bullish momentum. While the EIA report showed natural gas inventories increased by 92 billion cubic feet, slightly above estimates of 87 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, but the fact that inventories are approaching a record high could still lead prices to fluctuate.
Highlights for this week that will probably affect the Natural Gas direction are:
Thursday November 03:
At 14:30 GMT, The EIA will release the weekly natural gas storage change for the week ending October 28, where the prior report showed that natural gas inventories increased by 92 billion cubic feet.
See what are the upcoming financial event on the FX Empire Economic Calendar now.
