March natural gas prices tried to rebound this morning but instead plunged below Thursday's low to their lowest level in 5 days. Natural gas was the weakest of the energy complex Thursday after it had a very negative reaction to the weekly EIA natural gas storage report that was in line with expectations. The report showed a draw of 189 bcf, which brought the total storage down to 2,353 bcf or 0.2% above the 5 year average. Over the last four weeks natural gas storage has declined 744 bcf. Meanwhile, the latest weather maps are indicating that temperatures in the Northeast and Midwest are expected to average below to much below average out to February 13th.
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