December Nymex natural gas closed up +4.10%, driven by colder US weather forecasts. EIA predicts a -11 bcf decline in nat-gas storage, supporting prices. However, higher US nat-gas production and active rigs pose bearish factors. Despite a bearish EIA report, US electricity output rose, boosting gas prices. Baker Hughes reports a slight decrease in active US nat-gas drilling rigs.
Read more at Yahoo Finance: Nat-Gas Prices Jump on Colder US Weather Forecasts
