Natural Gas Rises to Five-Month High on Inventory Decline
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Natural gas futures rose to the highest price in more than five months after a government report showed that U.S. inventories fell more than forecast last week as cold weather boosted demand for the heating fuel.
Gas gained 2.9 percent after the Energy Department said supplies dropped 243 billion cubic feet in the week ended Jan. 14 to 2.716 trillion. A survey of Bloomberg users released five minutes before the report showed an expected drop of 234 billion. Temperatures last week were below normal in the East and Midwest, according to the National Weather Service.