NOV 6 THURSDAY
SHORT TERM TREND : SIDEWAYS
LONG TERM TREND : BEAISH
S1 RS 341.50 , S2 RS 339
R1 RS 348 , R2 RS 351
Natural Gas Futures Advance Before U.S. Inventory Report .
Natural gas in New York rose for a fourth day before
a government report tomorrow that may show a
smaller-than-average U.S. inventory increase, as
cold weather spurred demand for the heating fuel.
Supplies probably rose 24 billion cubic feet in the week ended
Oct. 31, according to the median of 14 analyst estimates
compiled by Bloomberg.
Natural gas for December delivery gained 3 cents, or 0.4
percent, to settle at $7.249 per million British thermal
units at 2:50 p.m. on the New York Mercantile Exchange.
Gas closed above the 50-day moving average for the second
consecutive day. Prices yesterday broke above the average
for the first time since July 10 and closed above $7 per
million Btu for the first time in a month.
Gas inventories will total about 3.4 trillion cubic feet to start
the cold-weather season in the U.S., when demand peaks for
the fuel. Supplies in last week's Energy Department report
were 2.9 percent above the five-year average.
Stockpiles typically rise from April until early November, when
cold weather sends demand higher.
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