Weekly Storage Draw Lifts U.S. Natural Gas Futures -- Market Talk

Dow Jones12-19

1057 ET - U.S. natural gas futures add to gains as a weekly inventories report lands in line with expectations. Natural gas in underground storage fell by 125 billion cubic feet last week to 3,622 Bcf, the EIA reports. The draw was larger than the 92 Bcffive-year average withdrawal for the week, and reduced the surplus over the averageto 132 Bcf from 165 Bcf the week before. Stocks were 20 Bcf higher than at this time last year. Analysts in a Wall Street Journal survey predicted a 123 Bcf inventory withdrawal for last week. The Nymex front month is up 4.2% at $3.516/mmBtu. (anthony.harrup@wsj.com)

(END) Dow Jones Newswires

December 19, 2024 10:57 ET (15:57 GMT)

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