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Rich Asplund

Nat-Gas Prices Rebound as Weekly EIA Inventories Decline

EIA United States Donald Trump BNEF Natural Gas

April Nymex natural gas (NGJ25) on Thursday closed up by +0.027 (+0.66%).

April nat-gas on Thursday rebounded from a 1-1/2 week low and posted moderate gains after weekly EIA nat-gas inventories fell more than expected. The EIA reported that nat-gas inventories fell -62 bcf the week of March 7, a larger draw than the expectations of -50 bcf. Nat-gas prices Thursday initially moved lower on the outlook for warmer US weather, which will curb heating demand for nat-gas. The Commodity Weather Group said Thursday that forecasts have shifted warmer for the eastern half of the US for March 18-22.

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