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FINWIRES

Natural Gas Steady Ahead of Storage Data as Forecasts See Mild Weather Continuing for Eastern Markets

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-- Natural gas was steady early on Thursday ahead of fresh storage data even as long-term forecasts expect mild weather that will keep demand light.

Gas for June delivery was last seen unchanged at US$2.65 per million British thermal units.

Long-term forecasts from the National Weather Service expect most states east of the Rocky Mountains to see cooler than seasonal temperatures over its six to 14 day outlook, keeping cooling demand light.

The Energy Information Administration will release its weekly look at inventories of the fuel, with Celsius Energy expecting the agency to report an 85-billion cubic feet rise in stocks. The agency last week reported reported inventories ended the prior week at 2.06-trillion cubic feet, 7.1% above the five-year average.

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