Front futures down another 11 cents since the above was posted, $2.706, down 0.156.
From the Houston Chronicle's Fuel Fix blog:
HOUSTON — Not even powerful cold could save natural gas Wednesday.Here's the EIA report.
Traders sent the price down on the benchmark futures market in spite of chilling temperatures and a winter front that has blanketed much of the country in snow.
The U.S. Energy Information Administration’s weekly report on natural gas inventories showed a higher-than-normal withdraw of natural gas for the week ending Feb. 20, but even that strong draw didn’t measure up to analysts’ expectations.
The EIA data released Thursday showed inventories at 1.94 trillion cubic feet, down 219 billion cubic feet from the prior week.
A survey of 25 analysts had projected that cold weather would drive about 241 billion cubic feet of gas from inventories, according to data compiled by Bloomberg....MORE
Platts' analyst survey came in at between 239 billion cubic feet and 243 billion cubic feet.
Today's action via FinViz:
