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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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.
Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tips at very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.
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