Dow Jones - Natural Gas Rises Ahead of Inventory Data

DJ Natural Gas Rises Ahead of Inventory Data


 By Nicole Friedman


  NEW YORK--Natural-gas prices rose Wednesday ahead of weekly inventory data expected to show that stockpiles of the
fuel fell last week by near-average levels for this time of year.

  Natural gas futures have dropped steeply this week. Demand for the natural gas as an indoor-heating fuel has been
subdued due to moderate weather across much of the U.S., and inventories of the fuel are above average levels. Weather
forecasts call for continued above-normal temperatures in the coming weeks.

  Analysts surveyed by The Wall Street Journal expect the Energy Information Administration to report Thursday that
stockpiles fell by 159 billion cubic feet last week, close to the 165-bcf five-year-average draw for this time of year.
The EIA is due to release inventory data at 10:30 a.m. EST.

  If the storage estimate is correct, inventories as of Jan. 29 totaled 2.927 trillion cubic feet, 20% above levels
from a year ago and 18% above the five-year average for the same week.

  Futures for March delivery settled up 1.3 cent, or 0.6%, to $2.038 a million British thermal units on the New York
Mercantile Exchange.


  Write to Nicole Friedman at nicole.friedman@wsj.com


  (END) Dow Jones Newswires

  February 03, 2016 15:54 ET (20:54 GMT)

  Copyright (c) 2016 Dow Jones & Company, Inc.

020316 20:54 -- GMT
------

^^^^^^