Natural gas futures faltered on Thursday after the latest government inventory report showed ample supplies and relatively modest early-winter heating demand. The February Nymex gas futures contract fell 7.0 cents day/day and settled at $3.812/MMBtu. March dipped 4.0 cents to $3.670.

storage

At A Glance:

  • EIA posts a 31 Bcf pull from storage
  • The result falls short of expectations
  • Cash prices soar in Northeast

NGI’s Spot Gas National Avg., in contrast, jumped $1.155 to $6.260. Next-day prices in the Northeast surged and fueled the overall gain.

The U.S. Energy Information Administration (EIA) on Thursday reported a withdrawal of 31 Bcf natural gas from storage for the final week of 2021. The result missed expectations by a wide margin. Prior to the report, major polls showed...