Financial Wire

Natural Gas Edges Up From an Eight-Month High on Warm Forecasts; Fresh Storage Data Awaited

Natural gas edged up from a near eight-month low early Thursday ahead of fresh storage data as demand remains light amid spring weather.Gas for May delivery was last seen up $0.01 to US$2.73 per million British thermal units after falling to the lowest since Aug. 25 a day earlier.Long-term forecasts from the National Weather Service see most states with warmer than seasonal temperatures over its six to 14 day outlook, offering some early cooling demand, with Southeast states likely to see the warmest temperatures over the period, though well below mid-summer heat.The Energy Information Administration will release its weekly survey of inventories of the fuel, the first since the April 1 start to the cooling season, Celsius Energy is expecting the agency to report stocks rose by 42-billion cubic feet last week.

-- Natural gas edged up from a near eight-month low early Thursday ahead of fresh storage data as demand remains light amid spring weather.

Gas for May delivery was last seen up $0.01 to US$2.73 per million British thermal units after falling to the lowest since Aug. 25 a day earlier.

Long-term forecasts from the National Weather Service see most states with warmer than seasonal temperatures over its six to 14 day outlook, offering some early cooling demand, with Southeast states likely to see the warmest temperatures over the period, though well below mid-summer heat.

The Energy Information Administration will release its weekly survey of inventories of the fuel, the first since the April 1 start to the cooling season, Celsius Energy is expecting the agency to report stocks rose by 42-billion cubic feet last week.