Natural gas yesterday traded with the negative node and settled -2.25% down at 173.2 for a second day, dropping to a 15-week low amid speculation U.S. natural gas inventories fell less than average last week. The US EIA was due to release its weekly report on U.S. natural gas stockpiles for the week ended February 25 on Thursday. The report could show that U.S. natural gas inventories dropped by 81 bcf. The 5-year average withdrawal for the week is 131 billion cubic feet. Natural gas futures, which have lost nearly 22% since hitting a 5-month high of USD4.828 on January 24, were on track for their lowest winter peak since 2001-02. Warmer-than-normal winter temperatures decrease the need for gas-fired electricity to heat homes, reducing demand for natural gas. For today's session market is looking to take support at 171, a break below could see a test of 168.9 and where as resistance is now likely to be seen at 175.9, a move above could see prices testing 178.7.

Trading Ideas:

Natural Gas trading range is 168.9-178.7.

Natural gas ended down low amid speculation U.S. natural gas inventories fell less than average last week.

Natural gas looks to have a support at 170.60 and resistance at 176.80

Today natural gas storage: EXP: -89B PREV: -81B