Saturday, 04 April 2015 10:10

Natural Gas Rebounds on Winter Storm

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Natural Gas future for March gained by 1.81% to $4.996 on winter storm at Northeast U.S

The commodity fell from two and half years high to $4.721 per million British thermal units (btu) on 31st January on outlook of mild weather across U.S. Natural Gas rebounded yesterday from the low of $4.751 and hit the level of $4.986 per million btu.

On Thursday Energy Information Administration will release storage data for the week ended 31st Jan. We may see high Inventory withdrawal on below average temperature mainly at Northeast and Midwest U.S. Last week the inventory fell to 230 billion btu which was 11th consecutively fall since 21st Nov. Natural Gas is expected to remain near to $4.6 till the end of winter.

In other energy commodities Crude Oil future for March gained by 0.23% at $96.68, British benchmark oil Brent is down by 0.35% at $105.67, Gasoline is trading up by 2.71% at $5.038 at GMT 0900.

 

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