The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 79 Bcf natural gas from storage for the week ended March 11. The result exceeded expectations and supported Nymex natural gas futures.

storage

A frigid weather system blanketed swaths of the nation’s midsection early in the covered period, delivering chilly rains and freezing temperatures. Another blast of cold followed late in the trading week that affected the Midwest and East.

Liquefied natural gas (LNG) export levels also proved strong during the week, in part because of European demand amid the Russian invasion of Ukraine and the supply worries it has fostered.

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