Natural gas yesterday traded with the negative node and settled -0.06% down at 181.2 ended flat rebounding from a three-day low after a report from the US EIA showed that natural gas inventories rose less-than-expected last week. The US EIA said in its weekly report that natural gas storage in the US in the week ended August 19 rose by 73bcf, after increasing by 50bcf in the preceding week. Market had expected U. S. natural gas storage to rise by
75bcf. Stockpiles advanced by 38bcf in the same week a year earlier, while the five-year average change for the week is a buildup of 55bcf. Total US natural gas storage stood at 2.906 trillion cubic feet. Stocks were 140bcf less than last year at this time and 55bcf below the five-year average of 2.961 trillion cubic feet for this time of year. The report showed that in the East Region, stocks were 112bcf below the five-year average, following net injections of
58bcf. Stocks in the Producing Region were 55bcf above the five-year average of 905bcf, after a net injection of 7bcf. In the West Region, stocks were 2bcf above the five-year average after a net addition of 8bcf. For today's session market is looking to take support at 178.4, a break below could see a test of 175.5 and where as resistance is now likely to be seen at 183.9, a move above could see prices testing 186.5.

Trading Ideas:

Natural Gas trading range is 175.5-186.5.

Natural gas erased losses rebounding after report from EIA showed inventories rose less-than-expected

EIA said in its weekly report that natural gas storage rose by 73 bcf, after increasing by 50bcf in last week.

Storm was forecast hitting the US eastern seaboard by weekend and US Coast Guard was closely monitoring.