Natural gas prices add nearly one percent after U.S. inventory drawdown for 14th straight week

Natural gas futures rose nearly one percent in American trade as the dollar index dips according to their inverse relation, which follows a basket of data from the U.S., the world's largest energy consumer, including the EIA inventory report that showed another drawdown.
 
As of 08:35 GMT, Natural gas futures due on March 16 rose 0.85% to $2.614 per million British thermal units from the opening price of $2.592, with an intraday high at $2.704, and a low at $2.569, while the dollar index dipped 0.17% to 101.11 from the opening of 101.38.
 
Earlier data from the world's largest economy showed unemployment claims up to 244 thousand in the week ending February 18 from 238K in the previous reading, revised lower from 239K, while analysts expected 242K.
 
Continuing claims fell to 2.060 million in the week ending February 11, from 2.077M in the previous reading, while analysts expected 2.068M, before Federal Reserve Bank of Dallas President Robert Kaplan spoke at the Tarrant County Bankers Association, in Fort Worth.

On the same note, the Energy Information Administration released its report on U.S. natural gas stocks, showing another drawdown of 89 billion cubic feet in the week ending February 17, down from the previous reading's 114B deficit, but slightly above expectations of an 86B deficit, with the total now falling to 2.356 trillion cubic feet from 2.445 trillion in the week ending February 10, which is lower than the same period in 2016 at 2.617 trillion, while above the five-year moving average at 2.200 trillion.