Natural Gas futures reversed lower following storage report.

January Natural Gas futures experienced a sharp reversal, dropping to 3.889 after an initial rally of nearly 5%. The move puts the contract on track for a second straight weekly decline. The EIA storage report estimated working gas at 3.6 trillion cubic feet, a 167 billion cubic feet decrease from the prior week. While inventories remain 32 billion cubic feet above the five-year average, unseasonably warm weather across much of the U.S. is expected to keep domestic heating demand in a low range during the holiday week.