Natural Gas Daily Outlook for April 07, 2011

Natural gas prices extended their drop for a fourth consecutive day, where warmer than normal weather conditions reduced demand for heating oil, and accordingly, pushing natural gas prices lower.

Traders will be waiting tomorrow for the EIA natural gas stockpiles, while warmer than normal weather conditions are still expected to weigh down on natural gas prices.

Thursday, 14:30. The EIA will release the weekly natural gas storage change for the week ending April 1, where the prior report showed that natural gas inventories inclined by 12 billion cubic feet, and Thursday’s report is expected to show that natural gas inventories declined by 52 billion cubic feet.

(Source: http://www.commoditiesmansion.com/commodities-news/natural-gas-daily-outlook-for-april-07-2011/)