April Natural Gas Futures Breaks Resistance on Hefty Storage Draw

摘要

US April natural gas futures continued to climb Friday, adding 1.3% to Thursday's 3.2% jump in reaction to an inventory withdrawal that was not only unexpectedly large, but significantly larger than last year and the five-year average. Lingering supportive late-winter cold was also credited. "A draw that large this late in the season would challenge the assumption that we will end the withdrawal season with a surplus of gas," Gelber & Associates analyst Aaron Calder said in a note.