U.S. natural gas falls to 1-week low on bets for bearish storage data

Investing.com reports: U.S. natural gas futures declined for the second day in a row on Wednesday, falling toward a one week low as weather forecasts for the end of January turned warmer, which should dampen demand for the heating fuel. Weather models initially predicted colder temperatures throughout most parts of the U.S. during the period. Natural gas markets have been volatile in recent weeks, changing course rapidly in response to shifting outlooks in short-term weather patterns. Meanwhile, market participants looked ahead to weekly storage data due on Thursday, which is expected to show a draw in a range between 220 and 230 billion cubic feet in the week ended January 13. That compares with a withdrawal of 151 billion cubic feet in the preceding week, 178 billion a year earlier and a fiveyear average drop of 170 billion cubic feet. For more on this story visit investing.com or click http://bit.ly/2jrbbBm