Natural Gas on MCX settled down -2.23% at 188.3 as investors reacted to forecasts for rising production and mild weather. The market lost ground even after a government report showed a smaller-than-expected storage build last week.

The National Hurricane Center said a depression near Nicaragua strengthened into Tropical Storm Nate and was projected to strengthen into a Category 1 hurricane over the next few days as it moves toward the Gulf of Mexico and the coasts of Louisiana, Mississippi, Alabama and Florida. EIA natural gas storage report showed a build on supplies of +42 Bcf vs the 5-year average of +91 Bcf and market expectations near +48 Bcf.

Trading Ideas:

* Natural gas trading range for the day is 185.2-193.4.

* Natural gas prices ended with losses as investors reacted to forecasts for rising production and mild weather.

* The market lost ground even after a government report showed a smaller-than-expected storage build last week.

* EIA natural gas storage report showed a build on supplies of +42 Bcf vs the 5-year average of +91 Bcf and market expectations near +48 Bcf.

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