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Barchart
Rich Asplund

Nat-Gas Surges on Smaller EIA Inventories and Record Heat in the Western U.S.

EIA Nymex United States BNEF Electricity Natural Gas

Aug Nymex natural gas (NGQ23) on Thursday closed +0.154 (+5.92%).

Nat-gas prices Thursday rallied to a 2-week high and closed sharply higher.   A smaller-than-expected increase in weekly nat-gas stockpiles sparked a rally in nat-gas futures Thursday after EIA nat-gas inventories rose +41 bcf, below expectations of +45 bcf.  Also, record-high temperatures in the western and southwestern U.S. are ramping up nat-gas demand from electricity providers to power increased air-conditioning usage.

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