Natural Gas Technicals

[ashif]

Natural gas fall for 2nd straight day.


U.S. natural gas declined for a second day in a row on Tuesday, amid speculation that July heat won’t prevent stockpiles from reaching a record before the winter.


Natural gas for delivery in September on the New York Mercantile Exchange shed 3.7 cents, or 1.36%, to trade at $2.675 per million British thermal units by 14:26GMT, or 10:26AM ET. A day earlier, prices lost 3.1 cents, or 1.13%.


Total U.S. natural gas storage stood at 3.277 trillion cubic feet as of last week, according to the U.S. Energy Information Administration, 14.4% higher than levels at this time a year ago and 17.1% above the five-year average for this time of year.


Unless intense summer heat boosts demand from power plants, stockpiles will test physical storage limits of 4.3 trillion cubic feet at the end of October.

[ashif]

Natural gas futures spike 5% after storage data.


U.S. natural gas futures rallied sharply in North America trade on Thursday, after data showed that natural gas supplies in storage in the U.S. rose less than expected last week.


Natural gas for delivery in September on the New York Mercantile Exchange spiked 14.0 cents, or 5.26%, to trade at $2.800 per million British thermal units by 14:35GMT, or 10:35AM ET. Prices were at around $2.730 prior to the release of the supply data.


The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ended July 22 rose by 17 billion cubic feet, below forecasts for an increase of 26 billion.


That compared with an increase of 34 billion cubic feet in the prior week, 49 billion a year earlier and a five-year average of 52 billion cubic feet.

[ashif]

Natural Gas prices are up ahead of storage data.

Natural gas prices are in slice green ahead of weekly storage data.

On Wednesday, futures dropped to $2.944, a level not seen since September 15.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 49 billion cubic feet in the week ended September 29, below expectations for an increase of 55 billion cubic feet.

[ashif]

Natural gas slides to 6-week low after storage data.


U.S. natural gas futures declined again on Thursday, falling to a near six-week low after data showed that natural gas supplies in storage in the U.S. fell less than expected last week.


Natural gas for February delivery on the New York Mercantile Exchange hit a session low of $3.175 per million British thermal units, a level not seen since November 28.


It was last at $3.192 down 7.5 cents, or 2.3%. Futures were at around $3.287 prior to the release of the supply data.

[ashif]

Natural gas sinks 5% on forecasts for warm weather.


Natural gas futures started the week with heavy losses on Monday, as forecasts of warmer weather and lighter heating demand for the next two weeks dragged down prices.Natural gas for February delivery on the New York Mercantile Exchange tumbled by more than 5% to a session low of $3.115 per million British thermal units, a level not seen since November 24.


It was last at $3.124 down around 4.9%.Prices of the heating fuel lost 43.9 cents, or 11.8%, last week, as forecasts of mild January weather replaced predictions of severe cold.


According to updated weather forecasting models, above normal temperatures are expected throughout large portions of the southern and eastern U.S. through January 23, dampening demand for the heating fuel.About half of U.S. homes use natural gas for heating.

[Raam]

Natural Gas Technical Levels - 10.01.2017
Natural gas remains under pressure due to improvement in weather. Sell Natural gas targeting $2.7 per MMBtu. Today’s range $3.11-3.18
Natural Gas is currently trading at $3.17/mmbtu. Immediate support lies at $2.6, $3.1 area & resistance at $3.5 and $3.75
Trend overall looking slightly bullish at the moment.

[ashif]

Natural gas falls to 1-week low on bearish storage data.


Natural gas futures declined for the second day in a row on Wednesday, falling toward a one-week low as weather forecasts for the end of January turned warmer, which should dampen demand for the heating fuel.Weather models initially predicted colder temperatures throughout most parts of the U.S. during the period.Natural gas markets have been volatile in recent weeks, changing course rapidly in response to shifting outlooks in short-term weather patterns.Prices typically rise during the winter as colder weather sparks indoor-heating demand. About half of U.S. homes use natural gas for heating.Natural gas for February delivery on the New York Mercantile Exchange dropped nearly 3% to a session low of $3.310 per million British thermal units, a level not seen since January 12.

[ashif]

Natural gas surges 4% after bullish storage data.


Natural gas prices rose for the fourth day in a row, hitting a more than one-week high after data showed that natural gas supplies in storage in the U.S. fell more than expected last week.


Natural gas for March delivery on the New York Mercantile Exchange rallied 13.0 cents, or about 3.9%, to $3.474 per million British thermal units after rising 5.1 cents, or 1.6%, a day earlier.Futures were at around $3.458 prior to the release of the supply data after climbing to a session high of $3.492 in the immediate aftermath of the storage report, a level not seen since January 17.