March natural gas prices traded lower overnight after a positive rebound during yesterday's session. Expectations for this morning's EIA storage report are for a decline of around 200 bcf, which compares to the five year average decline of 159 bcf. In the meantime, weather maps continue to show near normal temperatures in the Northeast and Midwest regions for February 15th through February 19th time frame. Some traders noted that March natural gas has become extremely oversold after this week's 7.0% decline in prices.
Join the Discussion