Naturalgas settled up 0.22% at 231 as markets applauded official data revealing that supplies rose less than expected last week. Elsewhere, forecasts for cold weather arriving in late October supported prices as well. Meanwhile, market participants continued to focus on weather forecasts to gauge the strength of demand for the fuel. Thursday's gas storage report from the U. S. Energy Information Administration showed total domestic inventories rose last week by 90 billion cubic feet to 3.577 trillion cubic feet. Total stocks stand just about 4 percent below last year's level and are nearly 2 percent above the five-year average. The EIA on Friday said it would not release weekly inventory data or other data after this week due to the government shutdown. The agency said energy companies should continue to submit their data to the EIA and it will be processed after the furlough period. The U. S. National Hurricane Center was tracking a low pressure system well west-southwest of the Cape Verde Islands in the Atlantic basin. The system had a 50 percent chance to develop further in the next 48 hours, but it was not any immediate threat to offshore energy production. The latest National Weather Service six- to 10-day outlook issued on Thursday called for above-normal temperatures for the eastern third of the nation, stretching across parts of the South and also in the Northwest, with a large swath of below-normal readings for the rest of the nation. The number of rigs drilling for natural gas in the United States slid this week for the third time in four weeks, down nine to 369. Now Naturalgas is getting support at 229.5 and below same could see a test of 228 level, And resistance is now likely to be seen at 232.6, a move above could see prices testing 234.2.

Trading Ideas:

Naturalgas trading range for the day is 228-234.2.

Natural gas rose lifted by continued technical buying and short-covering ahead of cooler weather expected later this month.

Elsewhere, forecasts for cold weather arriving in late October supported prices as well.

The EIA said it would not release weekly inventory data or other data after this week due to the government shutdown.