0942 ET - U.S. natural gas futures are higher after testing support levels on last week's warming of near-term weather forecasts, which point to smaller inventory withdrawals for the tail end of winter than previously expected. The big shift toward milder weather suggests storage may end March near "a manageable 1,650 Bcf," Eli Rubin of EBW Analytics says in a note, and the storage deficit against the five-year average looks set to peak around 250 Bcf, compared with recent estimates of 325 Bcf. Still, resilient Henry Hub spot prices at the weekend offer "caution as to the degree of any near-to-medium term weakness," he adds. The Nymex front month is up 1.9% at $3.907/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
March 03, 2025 09:42 ET (14:42 GMT)
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