October 26, 2016

U.S. natural gas futures on Wednesday climbed higher on forecasts for hotter weather over the next two weeks and the possibility of a small, single – digit storage build or withdrawal. Analysts estimated utilities adde d 2 billion cubic feet of gas into storage during the much hotter – than – normal week ended July 29, the least for that week since at least 1993. Several analysts, however, forecast a small weekly storage withdrawal, which would be the first during the summer since 2006. Despite the smaller – than – normal injections, analysts still expected stockpiles will start the winter heating season in November at all – time highs due to the record amount of gas utilities left in storage at the start of the summer season in April.

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