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The EIA reported that U.S. natural gas supplies fell 49 Bcf in the week ended Dec. 30, well below the 106 Bcf expected.
Total stocks stand at 3.311 Tcf, 364 Bcf below a year earlier and 21 Bcf below the five-year average.
The smaller-than-expected withdrawal signals a looser balance than forecast, which pushed February futures lower.
foxbusiness.comMyra P. SaefongJan 5, 2017After 62 past bearish report events, Natural Gas moved a median -3.0% over 5 sessions (42% higher; middle half -7.6% to +4.6%), and -0.5% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
