Natural Gas Futures Soar Above $3 as Storage Surplus Shrinks
Natural gas futures surged to their highest level since July after a light storage print on Thursday.
The U.S. Energy Information Administration reported that natural gas inventories increased by 53 Bcf (billion cubic feet), which is below the five-year average of 73 Bcf for this time of year.
This lighter-than-expected injection, combined with hints of heating demand, propelled prices above $3.000/MMBtu.