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Market Watch: Nymex Gains As March Takes Prompt-Month Slot
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March gas futures jumped 18.6¢ Thursday to $3.918 per million Btu following a larger-than-expected weekly storage build.
"The report was supportive and confirmed winter demand is still pulling hard on inventories, but the first response was more of a whipsaw than a breakout.
March briefly leaned higher on the headline, then faded, then stabilized again as the market weighed what was already priced in after the recent cold-driven volatility," Gelber & Associates said.
"The $4 area continues to act like a line in the sand, where buyers are interested but less eager to chase without fresh confirmation."