...MORE* Estimates for light storage build prop up prices * Production cuts, coal switching help tighten the market * Milder weather this week limits upside * Coming Up: Reuters EIA natgas storage poll Wednesday NEW YORK, May 9 (Reuters) - U.S. natural gas futures edged higher early Wednesday for a third straight session, with expectations for a supportive weekly inventory report on Thursday and signs of a tighter market offsetting the mild weather this week that slowed demand.
Traders said the supply-demand balance for gas seemed to be tightening, with record production finally showing signs of slowing and demand picking up as utilities push to switch from coal to cheaper gas to generate power.
The result has been that the weekly inventory build has fallen short in three of the last four weeks and could do so again on Thursday even as moderate spring temperatures slowed overall weather demand
Wednesday, May 9, 2012
"US natural gas futures edge higher for third day"
From Reuters: