“Finally we got a real winter scenario,” Bob Yawger, director of the futures division at Mizuho Securities USA Inc, told the WSJ. “That had been something that was not showing up.”
Demand for natgas is expected to rise next week as cold polar air moves into the Midwest Saturday and spreads to the east and south Monday.
Nevertheless, natural gas prices remain depressed as inventories are still above their five-year average for this time of the year. Total stocks now stand at 3.643 trillion cubic feet, or up 535 billion cubic feet year-over-year and 464 bcf above the five-year average.
United States Natural Gas Fund
Max Chen contributed to this article.