Naturalgas settled at 228.90 with weak sentimets on Wednesday after updated weather-forecasting models called for mild temperatures to stick around over the central and eastern U. S. in the coming days. A blast of cool air shooting in from Canada has brought mild temperatures along with showers and thunderstorms across the southern U. S., likely prompting households to throttle back on their air conditioning. "Reinforcing cool blasts will follow throughout the week and bring very comfortable temperatures and much lower than normal cooling demand to many regions through the weekend.

A compact weather system will track through the southern Plains with heavy rains and cool conditions as well, including the high demand state of Oklahoma," Natgasweather. com said in its daily weather forecast on Wednesday. "With comfortable temperatures pushing deep into Texas and the Southeast, a much larger than normal build will occur this week." Warmer temperatures will settle in over the western, southern and eastern U. S. during the Aug.
6-12 period. "However, the Midwest and Northeast will be vulnerable to cooler weather systems sweeping through out of southern Canada.

While temperatures will be warmer over the northern U. S., they will still be slightly cooler than normal, especially over the north-central U. S. as showers and thunderstorms track through," Natgasweather. com added. Supply remained in focus as well in early afternoon trading on Wednesday. The U. S. EIA said in its weekly report on July 24 that natural gas storage in the U. S. rose by 90bcf during the week before. The five-year average change for the week is an increase of 46bcf. Technically market is under fresh selling and getting support at 226.9 and below same could see a test of 225 level, And resistance is now likely to be seen at 231.3, a move above could see prices testing 233.8.

Trading Ideas:

Naturalgas trading range for the day is 225-233.8.

Natural gas settled flat after updated weather-forecasting models called for mild temperatures to stick around in the coming days.

Reinforcing cool blasts will follow throughout the week and bring very comfortable temperatures and much lower than normal cooling demand

Today natural gas storage: Exp: 92B Prev: 90B. Actual is at 8.00PM