Investing.com - Natural gas futures edged higher on Friday after investors digested a lackluster weekly supply report and determined the numbers largely met expectations.
On the New York Mercantile Exchange, natural gas futures for delivery in December were up 1.11% at $4.021 per million British thermal units during U.S. trading. The commodity hit a session low of $3.935, and a high of $4.041.
The December contract settled down 4.97% on Thursday to end at $3.977 per million British thermal units.
Natural gas futures were likely to find support at $3.620 per million British thermal units, the low from Oct. 28, and resistance at $4.544, Monday's high.
The Energy Information Administration reported earlier that U.S. Natural Gas Storage rose to a seasonally adjusted annual rate of 40 billion cubic feet last week from 91 billion in the preceding week.
Analysts had expected U.S. natural gas storage to rise by 39 billion cubic feet last week, and after digesting the data, investors determined that the report met market expectations, which gave the commodity support.
Investors kept chilly weather patterns in focus as well.
Blasts of cold weather are due to trek across the U.S. in the coming week followed my periods of milder weather, though heating demand should pick up albeit in a choppy manner.
Elsewhere on the NYMEX, light sweet crude oil futures for delivery in December were up 1.86% at $75.59 a barrel, while heating oil for December delivery were up 2.27% at $2.4158 per gallon.