Natural Gas Weekly Fundamental Analysis – June 15-19, 2015 – Forecast
Weekly Analysis and Recommendation:
Natural Gas had some ups and downs this week as the weather turned hotter helping increase demands. NG ended the week at 2.76 up over 6% on the week. Thursday’s higher than expected inventory had very little effect on prices. Natural gas futures declined after a government report showed a widening U.S. surplus of the fuel, signaling ample supplies as consumption by power plants picks up with warmer weather.
Stockpiles rose 111 billion cubic feet in the week ended June 5 to 2.344 trillion, the U.S. Energy Information Administration said. The increase was bigger than the five-year average gain for the week of 89 billion. Supplies were 1.9 percent above the average, up from 1 percent the previous week.
The report halted a rally that came as forecasts for hotter June weather in some of the biggest U.S. cities showed stronger demand to power air conditioners. Temperatures on the East Coast and Midwest will be above normal over the next 15 days, according to MDA Weather Services.
ForexTraq provides in-depth analysis for each currency and commodity we review. 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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Historical: From 2011 to Present
Highest: 6.49 on February 2014
Average: 3.307 over this period
Lowest: 1.902 on Apr 20, 2012
Economic Events: (GMT)
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 analysis forecast