December Nymex natural gas closed up 3.70% on Thursday, driven by colder US weather forecasts potentially increasing heating demand. The weekly EIA inventory report showed expected supply increases, keeping prices stable. US dry gas production and demand were up y/y, while LNG net flows to US terminals slightly decreased.

Higher US nat-gas production is negatively impacting prices, with the EIA raising its forecast for 2025 production. Despite record-high production levels and active rigs, prices remain stable. On the other hand, US electricity output is rising, providing some support for gas prices.

The weekly EIA report showed neutral data for nat-gas prices, with inventories in line with expectations. Current nat-gas inventories are slightly above the 5-year average, indicating ample supply. Meanwhile, gas storage in Europe is below the seasonal average. The number of active US nat-gas drilling rigs remains steady.

The article provides valuable insights into the natural gas market, including price trends, production data, and inventory levels. It highlights the impact of US weather forecasts, production levels, and electricity output on gas prices. The information is based on reliable sources and offers a comprehensive overview of the industry.

Read more at Yahoo Finance: Nat-Gas Prices Climb as US Weather Forecasts Turn Colder