Natural Gas Prices Rise Due to Smaller-than-Expected U.S. Storage Build
U.S. natural gas prices surged by 4.53% as the Energy Information Administration (EIA) reported a smaller-than-expected increase in storage inventories for the week ended April 24, at +79 billion cubic feet versus expectations of +83 bcf. The rally was also supported by forecasts of below-normal temperatures across much of the eastern U.S., which could boost heating demand.
Topics: EIA report natural gas prices production forecast storage build weather impact