UGAZ, it is another - 201 bcf. Report is out. Holding it.
Natural Gas Gains Most in 3 Weeks on Outlook for Colder Weather
By Christine Buurma on January 11, 2013
Natural gas futures in New York climbed the most in three weeks on forecasts for below-normal temperatures that would boost consumption of the heating fuel.
Gas advanced 4.2 percent after MDA Weather Services in Gaithersburg, Maryland, predicted colder-than-usual weather in the Northeast and Great Lakes region from Jan. 21 through Jan. 25. A report from the U.S. Energy Information Administration yesterday showed that inventories of the fuel last week fell by the most since February 2011.
“The shift in the weather is what’s giving us this price support,” said Phil Flynn, senior market analyst at the Price Futures Group in Chicago. “The inventory number yesterday was the biggest withdrawal in two years.”
Natural gas for February delivery rose 13.4 cents to settle at $3.327 per million British thermal units on the New York Mercantile Exchange. Trading volume was 26 percent above the 100-day average at 2:36 p.m.