Natural Gas yesterday traded with the positive node and settled 0.91% up at 154.20 as concerns over increasing storm activity ahead of the peak of the Hurricane season in September underpinned prices. The US National Hurricane Center said a tropical depression in the central Atlantic had an 80% chance of becoming a tropical cyclone over the next two days, as it moved west across the Caribbean. Production in federal waters in the Gulf accounts for about 10% of natural-gas output, and prices typically spike when storms threaten production. The US Atlantic hurricane season began on June 1 and ends November 30. But gains looked likely to remain limited as updated weather forecasts continued to predict milder weather across key parts in the US over the next two weeks. Cooler summer temperatures reduce the need for gas-fired electricity to power air conditioning, dampening demand for natural gas. Without strong demand through the rest of the summer cooling season, gas inventories will reach the limits of available capacity later this year. For today's session market is looking to take support at 152, a break below could see a test of 149.9 and where as resistance is now likely to be seen at 155.8, a move above could see prices testing 157.5.

Trading Ideas:

Nat.Gas trading range for the day is 149.87-157.47.

Natural gas gains as concerns over increasing storm activity ahead of Hurricane season underpinned prices.

Gains looked likely to remain limited as updated weather forecasts continued to predict milder weather

U.S. National Hurricane Center said tropical depression in central Atlantic had an 80% chance of becoming a tropical cyclone