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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Rebound on the Outlook for a Large Storage Withdrawal

January Nymex natural gas (NGF26) on Wednesday closed up by +0.021 (+0.46%).

Jan nat-gas prices recovered from a 2-week low on Wednesday and settled higher.  Short covering emerged in nat-gas futures on Wednesday amid expectations of a significant drawdown in weekly US nat-gas storage.  The consensus is that Thursday's weekly EIA nat-gas inventories will fall by -170 bcf for the week ended Dec 5, a much larger draw than the 5-year average for the week of -89 bcf.

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