Natural Gas Sees Weekly Gain on EIA Report, Summer Forecasts
CTRACoterra(CTRA) Zacks Investment Research·2024-05-13 22:06

The U.S. Energy Department's weekly inventory release showed that natural gas supplies increased less than expected. The positive inventory numbers, together with signs of production pullback and upcoming summer demand, buoyed natural gas futures, which settled with a healthy gain week over week. Despite this spike, which saw natural gas hit its highest since January, the market hasn't been kind to the commodity. It fell to multi-year lows earlier this year due to worries about record output and concerns ab ...