Natural gas futures erased losses to touch a 21-month high during U.S. morning hours on Thursday, after a report from the U.S. Energy Information Administration showed natural gas supplies rose less-than-expected last week.
On the New York Mercantile Exchange, natural gas futures for delivery in May traded at USD4.319 per million British thermal units during U.S. morning trade, up 2.5% on the day.
Nymex gas prices fell by as much as 1% earlier in the day to hit a session low of USD4.173 per million British thermal units, before retracing losses to touch a daily high of USD4.333, the strongest level since July 28, 2011.
The May contract traded at USD4.179 prior to the release of the U.S. Energy Information Administration report.
On the New York Mercantile Exchange, natural gas futures for delivery in May traded at USD4.319 per million British thermal units during U.S. morning trade, up 2.5% on the day.
Nymex gas prices fell by as much as 1% earlier in the day to hit a session low of USD4.173 per million British thermal units, before retracing losses to touch a daily high of USD4.333, the strongest level since July 28, 2011.
The May contract traded at USD4.179 prior to the release of the U.S. Energy Information Administration report.
