Natural Gas on MCX settled down -1.77% at 199.40 dropped on fresh selling moved lower as pressure seen on rupee firmness and trader preferred to stay away ahead of Thursday’s inventory report from the Department of Energy. Expectations are for a 135 BCF decline in stockpiles. Inventories are at the lower end of the 5-year average range while prices remain well below the 5-year average prices.
Trading Ideas
* Naturalgas trading range for the day is 194.5-207.1.
* Natural gas slipped on forecasts for milder weather and less heating demand next week than previously expected.
* The market has become much less volatile over the past few weeks with the approach of spring.
* With forecasts for more moderate weather next week, projected demand in the Lower 48 U.S. states would average 104.8 billion cubic feet per day .
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