• BREAKING: U.S. EIA reports withdrawal of 134 Bcf from natural gas storage for the week ended Jan. 8
  • Forecasts disappointed after high expectations for winter chill
  • But lower production and rising exports supported demand

In an erratic day of trading that saw natural gas futures swing between gains and losses several times, the prompt month eventually finished in the red despite the potential for a surge in freezing temperatures and robust heating demand in late January.

EIA storage jan 8

Lower production, rising U.S. liquefied natural gas (LNG) volumes and expectations for a triple-digit storage withdrawal added to positive sentiment earlier in the trading day.

The February Nymex gas futures contract settled at $2.727/MMBtu, down 2.6 cents day/day. March fell 1.8 cents to $2.689.

NGI’s Spot...