Natural Gas yesterday traded with the negative node and settled -0.47% down at 147.9 as milder autumn weather was expected to curb any late-season demand for cooling or early-season demand for heat. Shut-in gas from Hurricane Isaac has also been returning to service over the past few days, with few reports of damage from the storm. By Friday only 19.4 percent, or 847 million cubic feet, of offshore gas production, remained off line, a government report showed. Shut-in offshore Gulf of Mexico production from Isaac curbed this week's inventory build and should do the same to next week's injection. Thursday's storage report from the U.S. Energy Information showed domestic gas inventories rose last week by 28 billion cubic feet to 3.402 trillion cubic feet. Stocks are at levels that still offer a huge cushion that can help offset any weather-related spikes in demand or further supply disruptions from storms. There are still concerns that the storage overhang could drive prices to new lows if stocks climb to levels that test the government's 4.1 tcf estimate of capacity. In yesterday's trading session natural gas has touched the low of 147.6 after opening at 148.9, and finally settled at 147.9. For today's session market is looking to take support at 147.2, a break below could see a test of 146.6 and where as resistance is now likely to be seen at 148.9, a move above could see prices testing 150.

Trading Ideas:

Nat.Gas trading range for the day is 146.57-149.97.

Natural gas ended lower as milder autumn weather was expected to curb any late-season demand for cooling

Shut-in gas from Hurricane Isaac has also been returning to service over the past few days

Shut-in offshore Gulf of Mexico production from Isaac curbed inventory build and should do same to next injection