Natural Gas Prices Surge Amid Storage Drop, Colder Weather

Natural gas prices surged this week, with January futures closing up by 1.72%, following a report showing a larger-than-expected drop in storage levels. The EIA announced a 11 billion cubic feet decline, compared to the predicted 9 billion cubic feet. Colder weather forecasts across the US are also driving up prices. However, higher US natural gas production, with a 1% increase forecast for 2025, could put downward pressure on prices. Despite record production and active drilling rigs, the market remains complex due to the recent inventory drop and increased demand from colder weather.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.