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Prices for Natural Gas Rise Ahead of Supply Report

January 27, 2016 at 17:12 by Vladimir Vyun

Prices for natural gas rallied today ahead of tomorrow’s supply report from the Energy Information Administration. Analysts predict that the EIA report would show a drop of US gas reserves by 215 billion cubic feet. That would be the biggest drawdown since February 2015.

It is important to consider that weather forecasts Biggest Bounce House are not necessarily supportive for the commodity. AccuWeather predicted milder weather in eastern US at the start of February. Temperatures are expected to rise closer to the norm, meaning smaller consumption of gas used in heating. As AccuWeather Meteorologist Evan Duffey said:

The milder days will also continue to keep heating bills lower, a general trend for a large portion of the winter so far.

Nevertheless, contract for delivery of natural gas in February climbed 1.47 percent to $2.21 per million British thermal units as of 17:11 GMT on NYMEX.

If you have any questions and comments on the commodities today, use the form below to reply.

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