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Natural gas futures are trading lower early Thursday, following yesterday’s sell-off and ahead of today’s U.S. Energy Information Administration’s (EIA) weekly storage report. The report is expected to show a build which falls in line with the five-year average.At 0826 GMT, October Natural Gas futures are trading $2.935, down $0.009 or -0.31%.
Bullish traders appear to be taking a breather ahead of the report as they react to falling spot prices. Cooler weather this week is responsible for this. A bullish developing weather pattern for the last week in August and the first week in September is helping to provide limited support for the deferred November to March winter strip.
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