Thursday, 19 November 2015

Naturalgas trading range for the day is 151.4-162.2

Naturalgas settled down -0.95% at 155.9 due to mild weather estimates for the first time in the last three days.
 Meanwhile, the U.S. Energy Information Administration's next storage report on Thursday is expected to show a build of approximately 23 billion cubic feet for the week ending November 13. 

That compared with builds of 49 billion cubic feet in the prior week, 40 billion cubic feet in the same week last year, while the five-year average change for the week is an increase of 30 billion cubic feet.
 
Total U.S. natural gas storage stood at an all-time high of 3.978 trillion cubic feet, almost 10% higher than levels at this time a year ago and 4.5% above the five-year average for this time of year. 

The forecasting models suggest that cold winter weather will turn milder over the next 15 days in several parts of the United States.

Trading Ideas:
Naturalgas trading range for the day is 151.4-162.2.
Natural gas prices ended with losses due to mild weather estimates for the first time in the last three days.
The U.S. Energy Information Administration's next storage report on Thursday is expected to show a build of approximately 23 billion cubic feet.
Mild weather has reduced demand for the heating fuel in recent weeks, leading to larger-than-average storage builds.

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