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Barchart
Barchart
Rich Asplund

Nat-Gas Rallies on a Lower-Than-Expected Build in Weekly Inventories

June Nymex natural gas (NGM24) on Thursday closed up +0.079 (+3.27%).

June nat-gas prices on Thursday rallied to a 3-3/4 month nearest-futures high after weekly nat-gas supplies rose less than expected.  On Thursday, the EIA reported that nat-gas inventories for the week ended May 10 rose +70 bcf, below expectations of +76 bcf.  Nat-gas fell back from its best levels Thursday after the Commodity Weather Group said forecasts shifted cooler for much of the eastern half of the US, including Texas, for May 21-25, which should curb nat-gas demand from electricity providers to power air-conditioning usage.  

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