Gas Futures Rise on Lower Inventory Injection

Natural gas futures prices continued to show modest momentum on Thursday as traders reacted to a government inventory report. The New York Mercantile Exchange October contract rose by 2.8 cents to $2.919 per million British thermal units at midday, while the Henry Hub cash price averaged $2.903 early in the day, down from Wednesday's $3.010.

The modest increase in natural gas futures prices came after the government reported a 44 Bcf injection for the week ended September 11. This was lower than some analysts had expected, and may have contributed to the continued upward trend in prices.