US Natural Gas Inventory
The Natural gas inventory is a very crucial data for the natural gas trader. The Energy Information Administration’s (EIA) gives the weekly update on natural gas storage stored by the USA. It affects the Natural Gas price globally. As per Indian timing, the report generally comes on every Thursday.
More than expected Natural Gas Storage implies weaker in demand and is bearish for Natural Gas prices.
Less than expected Natural Gas Storage implies greater in demand and is bullish for Natural Gas prices.
Indicators That Impact India Stock Market
Impact of Natural Gas Storage data on Natural Gas Prices.
Data is better than forecast and just after the release of the data Natural Gas Price show a gap up
In the above chart, you can clearly see that Natural Gas Storage data on 24th May 2018 is positive as it is better than forecast.
Natural Gas Storage on 24th May 2018 is 91B which was better than forecast (92B) and previously (106B).
As we discussed above that Less than expected Natural Gas Storage implies greater in demand and is bullish for Natural Gas prices. So, in the above chart, you can clearly see that just after the data release Natural Gas showed an upward movement.
Note: The impact of Natural Gas Storage data on Natural Gas Prices is for a very short period of time. As shown in the above chart.
Data is lower than forecast and just after the release of the data Natural Gas Price show a gap down.
Similarly, in the second chart, you can see that Natural Gas Storage data on 17th May 2018 is negative as it is lower than forecast.
Natural Gas Storage on 17th May 2018 is 106B which was better than lower (105B) and previous (89B).
As we discussed above that More than expected Natural Gas Storage implies weaker in demand and is bearish for Natural Gas prices. So, in the above chart, you can clearly see that just after the data release Natural Gas showed gap down.
Note: The impact of Natural Gas Storage data on Natural Gas is for a very short period of time. As shown in the above chart.