09:25 AM EST, 11/18/2021 (MT Newswires) -- Benchmark natural gas rose early on Thursday ahead of fresh storage data from the Energy Information Administration that is expected to show another rise in inventories.
Gas for December delivery was last seen up US$0.15 to US$4.97 per million British thermal units, rebounding US$0.36 a day earlier.
Temperatures for most of the United States have been unseasonably mild for much of November, easing demand for fuel and boosting stored supplies.
"For today's EIA weekly storage report, survey averages suggest a build of +22-27 Bcf, but with the most notable at +23-25 Bcf and likely where market expectations are. It was warmer than normal over almost the entire US besides portions of the West and Gulf Coasts. We expect +30-31 Bcf, bearish when considering the 5-year average shows it should be the first draw of the season at -12 Bcf," NatGasWeather noted.