February natural gas prices traded lower throughout the morning hours, pressured by moderating US temperatures and modest profit taking. A number of cash market locations traded lower yesterday on signs of moderating temperatures ahead, which was counter to the action in the futures market. The latest 6 to 10 day weather maps show normal to above normal temperatures entering the northeast region, and that could be a force weighing on prices this morning. This morning's EIA storage report is expected to show a draw in the range of 80 to 85 bcf, which compares to last year's weekly draw of 135 bcf.
Join the Discussion