December Nymex natural gas (NGZ24) on Thursday closed sharply lower by -0.198 (-6.64%)
Dec nat-gas prices sold off Thursday after weekly EIA nat-gas supplies rose more than expected. The EIA reported that nat-gas inventories the week of November 8 rose by +42 bcf, above expectations of +39 bcf and well above the five-year average for this time of year of +29 bcf. Nat-gas prices fell despite the outlook for cooler US temperatures that will boost heating demand for nat-gas. Forecaster Maxar Technologies said forecasts shifted cooler for the West Coast, with colder temperatures moving eastward later in the November 18-22 period.
