Bulls vs Bears: Natural Gas Traders Spar Over Storage Levels

Natural gas futures traded indecisively ahead of this morning's government inventory report, despite analysts expecting a bullish headline result. Traders were waiting for confirmation on storage levels and demand.

The government inventory report revealed a 50 Bcf (billion cubic feet) increase in storage, which was in line with expectations. However, feedgas calls averaged 19 Bcf/d (daily), indicating a slight decline in demand. Analysts also predicted that overall demand would ease further.