January Nymex natural gas (NGF24) on Thursday closed up +0.016 (+0.62%).
Nat-gas prices Thursday recovered from early losses and posted moderate gains after weekly EIA nat-gas inventories fell more than expected. The EIA reported that nat-gas supplies fell -117 bcf last week, a larger draw than expectations of -109 bcf. Nat-gas prices Thursday initially extended Wednesday's sharp losses and posted a 3-1/2 month low on weather forecasts calling for above-average temperatures that would reduce heating demand for nat-gas. Forecaster Maxar Technologies said that U.S. weather forecasts are shifting warmer "pretty much across the board" for the U.S. from Dec 12-16.
