March Nymex natural gas (NGH25) on Thursday erased an early rally and closed down by -0.128 (-2.99%).
March nat-gas fell from a 2-year high Thursday and closed moderately lower after warmer US weather forecasts sparked long liquidation in nat-gas -futures. Forecaster Maxar Technologies said on Thursday that forecasts moved warmer for parts of the central US from February 25 to March 1, which will reduce heating demand for nat-gas. Thursday's nat-gas prices initially rallied to a 2-year high as a cold snap and storms moved through the US. Also, Thursday's weekly EIA inventory report showed nat-gas inventories fell -196 bcf, a larger draw than expectations of -193 bcf.
