Sending shockwaves through the natural gas futures market ahead of the Thanksgiving holiday, the Energy Information Administration (EIA) reported at noon (EST) Wednesday that 49 Bcf was pulled from storage for the week ended Nov. 19. The number fell so far outside of anyone’s expectations that market watchers were looking to the EIA for some sort of explanation.
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Futures Soar as Market Digests 49 Bcf Withdrawal
Sending shockwaves through the natural gas futures market ahead of the Thanksgiving holiday, the Energy Information Administration (EIA) reported at noon (EST) Wednesday that 49 Bcf was pulled from storage for the week ended Nov. 19. The number fell so far outside of anyone’s expectations that market watchers were looking to the EIA for some sort of explanation.
November 29, 2004
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