Nymex April Nat gas Outlook: Karvy Commtrade Ltd.
Published on Thursday, March 11th, 2010 at 6:55 PMAuthor: onlinecommoditycalls (1958 Articles)
On NYMEX April contracts closed yesterday at $4.56 declining by 0.95 percent.
EIA report today is expected to show inventories declining by 110 Bcf while the five year average for the week stands at -109 Bcf.
Prices rose yesterday on expectation that industrial consumption of the fuel will rise after yesterday’s US data showed an unexpected decline in wholesale inventories.
OUTLOOK:
The market may trade higher later in the evening ahead of the US jobless report which may show the employment sector improving while today’s inventory report may show a slightly above average decline in inventories which may provide a small support to prices.
Courtesy: Karvy Commtrade Ltd.
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