North American natural gas futures slumped mid-week but were given a boost on Thursday with a bullish storage print.
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New York Mercantile Exchange future prices for April rose back above the $4.00/MMBtu mark after the U.S. Energy Information Administration (EIA) announced a 62 Bcf net withdrawal for the week ending March 7.
The decrease widened the U.S. storage deficit to 628 Bcf or 230 Bcf (11.9%) versus the five-year average, according to the EIA.