0925 ET - U.S. natural gas futures extend their rally in defiance of milder weather forecasts that suggest the storage deficit will end the withdrawal season narrower than recently thought. "A lack of U.S. production growth in the face of increasing LNG demands and the potential loss of Canadian supplies appear to be at the core of the risk conversations driving the rally," Tradition Energy's Gary Cunningham says in a note. He attributes the overnight spike to $4.90 to short-covering in a thin market, "but we are in untested waters for the April contract so there is no telling where the top could be." The front month is up 3.1% at $4.534/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 09:25 ET (13:25 GMT)
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