Natural gas for December delivery NGZ14, -0.02% rallied 21 cents, or 5%, to finish at $4.4040 per million British thermal units. That was natural gas’s largest settlement since July.
Prices rose even as the Energy Information Administration reported earlier Thursday an increase in supplies that were above expectations.
The EIA reported natural gas inventories rose 91 billion cubic feet, compared with expectations of an increase between 83 bcf and 87 bcf, according to analysts polled by Platts.
Weather forecasts, however, have pointed to colder-than-normal temperatures for next week in key heating markets, and the cold snap points to more demand for natural gas.
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