Natural gas rose last week on speculation that warm weather and declining production may widen a stockpile deficit. Gas advanced 2.8 percent after the Energy Department reported that output in the lower 48 states slid 1.9 percent in February. The department said yesterday that gas inventories for the week ended April 22 totaled 1.685 trillion cubic feet, 0.6 percent below the five-year average. Inventories were below the five-year average for the first time since the week ended Feb. 25. Stockpiles were 11 percent below levels a year earlier, the widest year-on-year deficit since Aug. 8, 2008, yesterday’s report showed. In yesterday's trading session natural gas has touched the low of 207.3 after opening at 208.4, and finally settled at 208.3. For today's session market is looking to take support at 207, a break below could see a test of 205.8 and where as resistance is now likely to be seen at 209.8, a move above could see prices testing 211.4.

Trading Ideas:

Natural Gas trading range is 205.8-211.4.

Natural gas rose on speculation that warm weather and declining production may widen a stockpile deficit

Natural gas looks to test support at 205.80 and resistance is seen at 210.60

The number of rigs drilling for gas in the U.S. rose by four to 882 last week, the first increase in four weeks.