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Barchart
Rich Asplund

Nat-Gas Prices Jump as Weekly EIA Inventories Fall More Than Expected

EIA Nymex United States BNEF Natural Gas

January Nymex natural gas (NGF24) on Thursday closed up +0.125 (+5.11%).

Nat-gas prices on Thursday rallied sharply on a greater-than-expected draw in weekly U.S. nat-gas stockpiles.  The EIA reported that U.S. nat-gas inventories fell -87 bcf, a larger draw than expctations of -82 bcf.   Nat-gas prices were undercut by weather forecasts that call for above-normal temperatures for most of the U.S. from Dec 26-30, reducing heating demand for nat-gas.  The Commodity Weather Group said record-high temperatures could be seen in the Midwest during the Christmas holidays.

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