Natural gas settled 0.47% up at 190.90 as market players continued to monitor weather forecasts to gauge the strength of early-Autumn heating demand. Gas futures rallied almost 4% Thursday after the US EIA said in its weekly supply report that natural gas storage in the US rose by 72bcf last week, below market expectations for an increase of 77bcf. In its monthly short-term energy demand outlook published Wednesday, the EIA projected that natural gas stocks are expected to reach a record high of 3.90tcf on Oct 31. Meanwhile, market players continued to monitor updated weather forecasts to gauge the strength of early-Autumn heating demand. The US National Weather Service's 6-10day outlook issued on Friday called for above-normal temperatures in the Northeast and Southwest and mostly normal readings elsewhere across the nation. Meanwhile, the CWG said temperatures in the next 16-to-20 days will be cool to very cold in the Midwest, East and South, but will turn warmer in the first two weeks of November. Natural gas futures often reach a seasonal low in October, when mild weather reduces demand, before recovering in the winter, when heating-fuel use peaks. For today's session market is looking to take support at 190.6, a break below could see a test of 190.2 and where as resistance is now likely to be seen at 191.2, a move above could see prices testing 191.4.

Trading Ideas:

Nat. Gas trading range for the day is 190.23-191.43.

Natural gas gains continuing its firm trend after U. S. data showed gas-storage levels rose by less than expected last week.

Inventories rose by 108bcf in the same week a year earlier, while the five-year average change is an increase of 84 bcf

Data showed that the gas-directed rig count slid by 15 this week to 422, a new 13-year low.