Natural Gas Climbs on Dropping Stockpiles

Bloomberg reported that natural gas futures saw their first advance in four days, boosted by a report that showed that stockpiles had fallen the most in two years.

As quoted in the market report:

This was definitely a bullish withdrawal,” said Kent Bayazitoglu, an analyst at Gelber & Associates in Houston. “It was a cold week. People had reduced their expectations because of the New Year’s holiday, but this number would have been bullish even if it hadn’t been a holiday week.

To view the whole Bloomberg report, click here.