Analysis and Recommendations (Natural Gas Forecast):
Natural Gas broke over the $3 after the release of weekly inventory data. The Energy Information Administration said inventories rose 111 billion cubic feet in the week that ended May 8 to 1.897 trillion. Analyst estimates compiled by Bloomberg showed a gain of 116 billion, while a survey of users predicted an increase of 118 billion.
Gas has climbed 21 percent since dropping to a 34-month low April 27, driven by hotter-than-normal weather that has stoked demand from power plants. U.S. forecasts released Tuesday estimated that gas consumption by electricity generators will advance 13 percent this year from 2014.
The stockpile increase was bigger than the five-year average gain for the week — 82 billion cubic feet — according to the information administration. Supplies were 66 percent above year-earlier inventories, compared with 71.1 percent in last week’s report.
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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