RE: Reason for big boost today?
Yes. The draw was expected to be 40 and turned out to be 56. This provided the catalyst to reverse the trend.
NG actually normally sells off in winter and bounces back in spring - the opposite of what you think. It's how the MM make their money off the nieve little retail guy.
Historically, March is the third strongest month for natural gas prices. I posted these details a short while back and others have mentioned it here just today.
It is not unlikely for NG to reach $4.80 over the next few weeks before pulling back again. All in costs for NG producers is about $5.50 so you cannot depart too far for too long before normalizing.
Don't listen to the posters who have "gut feelings" - pay attention to those who state the facts.
Greg