Natural gas prices extended the gains on Thursday on optimism global economy could gain momentum, as U.S. jobless claims fell last week, while the European Central Bank cut interest rates to support economic growth and ease the deepening European debt crisis. Meanwhile, the EIA report showed natural gas inventories increased by 78 billion cubic feet, compared with median estimates of 72 billion cubic feet.
Traders could turn their attention the weather forecasts for next week, where weather forecasts on Thursday signaled that temperatures could drop below their average in several parts of the United States, and that could provide natural gas prices with more bullish momentum on speculations rising demand for the heating fuel.
