US May Gas Futures See Late-Week Jump on Bullish EIA Storage Data

摘要

US May gas futures jumped more than a dime, or 4.1%, to the low $2.70s Thursday going into a three-day holiday weekend. But whether it was a knee-jerk reaction to an unexpectedly large storage withdrawal or the beginning of a push into a higher trading range isn't clear. "Prices are up today in response to another bullish injection and this could be the start of a spring rally," Gelber & Associates analyst Aaron Calder said. "However, if production doesn't fall off, we could be in for another summer slide."