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Barchart
Rich Asplund

Nat-Gas Plunges on Warmer Weather Forecasts and Smaller Inventory Draw

United States Nymex BNEF EIA Natural Gas

February Nymex natural gas (NGG25) on Friday closed down sharply by -0.306 (-8.36%).

Feb nat-gas prices settled sharply lower on Friday after updated weather forecasts trended warmer for the eastern US, which will curb heating demand for nat-gas.  NatGasWeather.com said weather models shifted warmer for the eastern US for mid-January.   Losses in nat-gas prices accelerated Friday after the EIA reported that nat-gas inventories for the week of December 27 fell -116 bcf, a smaller draw than expectations of -128 bcf.  

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