Natural Gas settled 0.16% up at 189.00 in post-Christmas trade as near-term demand expectations for the heating fuel were boosted after the NWS issued blizzard warnings across the US East Coast. The US NWS issued blizzard warnings over a 730 mile stretch, from New York to Arkansas earlier in the day. The storm is expected to hit the Carolinas later Wednesday and then arrive in the US Northeast early Thursday. Extended weather forecasts showing colder than normal weather across most parts of the US in the next 7-10 days further boosted sentiment on the heating fuel. Heavy rain is expected in NY City until the end of the week, while snow is expected in much of upstate OF US, Weather.com reported. Natural gas prices have closely tracked weather forecasts in recent weeks, as traders try to gauge the impact of shifting forecasts on winter heating demand. Bullish speculators are betting on the cold weather boosting winter demand for the heating fuel. The heating season from November through March is the peak demand period for US gas consumption. Meanwhile, market players looked ahead to a closely watched US government report on natural gas supplies on Friday. Inventories fell by 87bcf in the same week a year earlier, while the five-year average change for the week is a decline of 140bcf. For today's session market is looking to take support at 185.8, a break below could see a test of 182.7 and where as resistance is now likely to be seen at 190.8, a move above could see prices testing 192.7.

Trading Ideas:

Nat.Gas trading range for the day is 182.67-192.67.

Natural gas rose as near-term demand expectations for the heating fuel were boosted

Extended weather forecasts showing colder than normal weather across most parts of the US.

Bullish speculators are betting on the cold weather boosting winter demand for the heating fuel.