1517 ET - U.S. natural gas futures settle higher as the market looks beyond bearish near-term fundamentals including milder March weather than previously forecast, higher production and lower heating and LNG demand. While this week's inventory report showed a below-estimate 80 Bcf withdrawal from storage, stocks remain in deficit against a year ago and the five-year average, raising expectations of strong refill demand over the summer. "The market is staring at an uphill battle to bring stocks back to healthy levels heading into next winter," Andy Huenefeld of Pinebrook Energy Advisors said in a note. The Nymex front month settles up 2.3% at $4.399/mmBtu, up 15% from a week ago. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
March 07, 2025 15:17 ET (20:17 GMT)
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