At last winter cometh to America.
The US Energy Information Administration disclosed on Thursday that natgas inventories declined 64bn cubic feet in the week ended December 4 versus an expected decline predicted by analysts of 45bn cubic feet, according to Bloomberg.
For a little while the news helped bolster WTI futures prices on Thursday, with front month crude trading back above $71 per barrel, although the bearish trend soon reasserted itself, leaving prices back below $70 for the first time in two months.
Related links:
More UK natgas glut talk - FT Alphaville