Analysis and Recommendations (Natural Gas Forecast):
Natural Gas is flat at 2.896 holding near its highest level as US weather warmed for summer ahead of tomorrow EIA inventory report. Natural gas futures for June delivery skyrocketed by 5.34%—led by warm weather estimates. This might increase the demand for natural gas.
Commodity Weather Group is a weather forecasting agency. It reported that the above normal warm weather is expected in the Northeast and mid-Atlantic regions of US in the first half of May 2015. New York will also experience warmer weather. This will drive the natural gas demand for cooling needs.
Last week, the EIA reported that weekly gas in storage rose by 76 Bcf (billion cubic feet)—against the industry consensus of an increase of 74 Bcf for the week ending May 1. The next report is expected to release on Thursday, May 14, 2015.
This is the sixth up day for gas prices over the last ten trading sessions. During the same period, prices increased by 1.63% more on the up days than on the average down days.
AccuWeather US Forecast Outlook:
The combination of a cool front swinging in from the Midwest and moisture from a diminishing Ana will bring an end to the summerlike weather in the Northeast early in the new week.
Minor travel delays are possible in parts of the Northeast Monday and Tuesday, following several days of warm and tranquil weather.
Following a Mother’s Day weekend in which many areas will experience high temperatures in the 80s under strong sunshine, increasing moisture will lead to an uptick in showers and thunderstorms from Sunday afternoon into Tuesday.
Monday will be more active than Tuesday across the mid-Atlantic.
The July-like pattern will deliver AccuWeather RealFeel® Temperatures in the 90s in many cities during the afternoon hours.
At first into Sunday evening, thunderstorms will be very spotty in nature. However, an increasing southerly flow of air ahead of the front will help to draw leftover moisture from Ana northward along the mid-Atlantic coast by Monday.
ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information for Natural Gas in our weekly reports.
Natural Gas Weekly Update
Release Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
Weekly Natural Gas Storage Report
Release Schedule: Thursday at 10:30 (Eastern Time) (schedule)
Natural Gas analysis forecast
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