Near-Record Stockpile Decline Outlook Lifts Natural Gas Futures

Natural gas futures continued their ascent to new highs today on the outlook the next gov’t report will reveal a near-record inventory drop after current weather boosted heating needs.  Natural gas futures are up 0.19c as of this writing.

The Energy Information Administration report due out today is anticipated to show natural gas stockpiles decreasing by 263B cubic feet – based on numerous analysts estimates.  Natural gas has been up 2.2% before the report being released.

Kevin Craney, Director of Managed Futures at RJO Futures in Chicago, had this to say regarding the current natural gas futures situation,Continued cold weather this winter will support (natural gas futures) prices through the winter.” 

The trend for natural gas futures is up as of late last month in my study.  With new highs being made today, there is no top in sight…

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