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Natural gas burned by weather, no rebound seen

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Nat gas inventories down 76 bcf

Natural gas half-heartedly rallied early Thursday on an unexpected decline in stockpiles, but then quickly fell back — as more warm weather descends on prime winter heating areas.

The East Coast this weekend is projected to see temperatures 15 to 20 degrees above normal and warm weather is also expected in the Midwest. Natural gas is down 8 percent so far this week with Thursday's more than 2 percent decline.

The Energy Information Administration reported Thursday that natural gas stockpiles fell by 76 billion cubic feet for the week ended Dec. 4. Analysts had expected under 65 billion cubic feet.