Natural gas yesterday traded with the negative node and settled -2.81% down at 185.1, dropping to a one-month low after the U.S. EIA said natural gas inventories rose more-than-expected last week. It earlier fell as much as 2.15% to $4.099 per mbtu, the lowest price since April 18. The U.S. EIA said in its weekly report that natural gas storage in the U.S. in the week ended May 13 rose by 92bcf, after increasing by 70bcf in the preceding week. Market had expected U.S. natural gas storage to rise by 90bcf. Supplies climbed 76bcf in the same week a year earlier. The five-year average change for the week is an increase of 91bcf. Total U.S. natural gas storage stood at 1.919 trillion cubic feet. Stocks were 235bcf less than last year at this time and 36bcf below the five-year average of 1.955 trillion cubic feet for this time of year. For today's session market is looking to take support at 183.2, a break below could see a test of 181.3 and where as resistance is now likely to be seen at 188.3, a move above could see prices testing 191.5.

Trading Ideas:

Natural Gas trading range is 181.3-191.5.

Natural gas slid after largest weekly inventory build so far this year added pressure to well-supplied market.

Natural gas looks to test support at 183.20 and resistance is seen at 188.30.

Energy Information Administration said U.S. gas stockpiles rose by 92 billion cubic feet last week