Market Overview

Natural Gas Spikes Following Reduced Stockpiles

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Natural Gas prices spiked Thursday and traded up 2.06 percent to $2.93 MMBtu on the NYMEX.

The price movement followed the release of the Weekly Natural Gas Storage Report, which showed a larger-than-expected drawdown in stockpiles.

The net change was -131 billion cubic feet for the week ending January 2, 2015.

United States Natural Gas Fund, LP (NYSE: UNG) recently traded at $14.79, up 1.44 percent.

Posted-In: News Markets

 

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