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Natural Gas Price Fundamental Daily Forecast EIA Storage Report Expected to Show 91 Bcf Pull

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Natural gas futures are edging higher shortly before the regular session opening on Thursday, and the release of the latest government weekly storage statistics.

Prices took a beating on Wednesday as the late-January forecasts continued to come in weaker than previously expected. Traders also reacted to expectations for another underwhelming weekly storage withdrawal.

At 14:51 GMT,March natural gas futures are trading $2.095, up $0.012 or +0.58%.

Short-Term Weather Outlook

According to NatGasWeather for January 16-22, Cold air continues across the Northern Plains with highs of only -0s to 20s. However, much warmer versus normal temperatures continue over the southern US and Mid-Atlantic Coast with highs of upper 60s to 80s.

A cold shot will race across the Upper Midwest & Northeast today and Friday for a modest increase in demand as lows drop into the 0s to 20s.

A strong weather system will track into the West today, then across the central and eastern US this weekend and early next week with increasing rain and snow, followed by colder temperatures.

Overall, light to moderate demand the next few days, then high Sunday-Wednesday.

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