0920 ET - U.S. natural gas futures are holding below the $4 mark with March weather continuing to look warmer than previously expected. "With the bearish weather forecast over the last week indicating storage deficits liable to peak near a manageable 250 Bcf, and daily production rebounding to test early-February highs, near-term downside is favored," Eli Rubin of EBW Analytics says in a note. The inventory deficit over the five-year average widened last week to 238 Bcf from 118 Bcf the week before. "The cold winter has accelerated the bullish narrative while prompt storage deficits provide fundamental cover for longs," Rubin adds. The Nymex front month is off 1.3% at $3.884/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
February 28, 2025 09:20 ET (14:20 GMT)
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