Natural Gas News | Natural Gas Updates | Natural Gas Futures

Natural gas futures moved sharply lower during  U.S. trade Wednesday, as market players looked ahead to Thursday’s closely watched U.S. government report on natural gas supplies.

Early injection estimates for Thursday’s storage data range from 52 billion cubic feet to 77 billion cubic feet, compared to last year's build of 95 billion cubic feet. The five-year average change for the week is an increase of 65 billion cubic feet.

Concerns remain that U.S. inventories will end the injection-season on October 31 above the record high of 3.852 trillion cubic feet, set last year.

The U.S. National Weather Service's six- to 10-day outlook issued Tuesday called for below-normal temperatures for most of the eastern half of the country, with above-normal readings were forecast on the West Coast and in a small portion of New England.

Natural gas futures often reach a seasonal low in October, when mild weather reduces demand, before recovering in the winter, when heating-fuel use peaks.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in December sank 1.10% to trade at USD85.71 a barrel, while heating oil for November delivery dipped 0.15% to trade at USD3.039 per gallon. [ Via ]

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