Natural gas trading range for the day is 157.8-164.8

* Natural gas trading range for the day is 157.8-164.8.

* Natural gas dropped on late profit booking after prices gained on forecasts for colder weather and higher heating demand

* Meteorologists projected temperatures in the U.S. Lower 48 states will remain colder than normal from Dec. 15-22

* Utilities likely pulled 82 billion cubic feet (bcf) of gas from storage during the week ended Dec. 6.

* Stocks would likely return to a surplus over the five-year average during the next month or so as rising production enables utilities to leave more gas in storage.

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Natural gas trading range for the day is 188.3-207.7

Natural Gas prices soar to closed above 200 level mark on Cold-weather forecasts, prices are at their highest level since late March while investors are the focus on inventory data this week. Cold-weather forecasts across much of the U.S. are extending a rally in natural-gas prices, the latest example of shifting temperatures wrong-footing investors in the volatile commodity market.

Trading Ideas:

* Natural gas trading range for the day is 188.3-207.7.

* Natural gas gained as forecasts for colder-than-normal weather over the next two weeks is expected to boost heating demand.

* The weather, in the last couple of weeks, was much colder than normal and the latest forecast calls for colder than normal weather for the next couple of weeks as well.

* Data provider Refinitiv projected 346 heating degree days (HDDs) in the Lower 48 U.S. states over the next two weeks.

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