Market Updates
Natural Gas Inventories Fall After Cold Weather Lifts Demand
Brian Turner
05 Jan, 2023
New York City
U.S. utilities withdrew 221 billion cubic feet of gas from storage during the week ended December 30th, according to the Energy Information Administration report released Thursday.
The decline in inventories was still significantly higher than 31 bcf fall in the similar week a year ago and higher than 98 bcf five-year average after colder-than-normal weather forced consumers and businesses to burn more gas.
Crude oil futures price rose 88 cents to $73.66 a barrel and natural gas futures price dropped 12% or 50 cents to $3.66 a thermal unit.
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