A faster-than-expected decline in US natural gas storage triggered a 3.6% price jump for the
front-month contract Mar. 14 in the New York futures market while crude increased 0.6% from a
marginal decline in the previous session.
The Energy Information Administration reported the withdrawal in excess of 10% from
“With the colder weather leading to freeze-offs this winter and higher demand for gas, the gas
markets have begun to tighten, increasing the year-over-year deficit. In addition, with some
nuclear outages, this has led to some incremental demand for gas which has driven the price up
to a near 2 year high.