09:28 AM EST, 11/28/2024 (MT Newswires) -- Natural gas prices rose in holiday trade on Thursday as forecasts call for cold weather in big eastern markets, raising heating demand for the fuel.

Gas for January delivery was last seen up US$0.05 to US$3.25 per million British thermal units.

The National Weather Service sees states east of the Mississippi River with colder than seasonal temperatures over its six to 14 day outlook, following a mostly mild November.

Natural gas stocks last week fell by two-billion cubic feet, near expectations but well under the 30-bcf five-year average drop for the week, the Energy Information Administration said on Wednesday as it released storage data a day earlier than usual due to the Thanksgiving holiday. Inventories ended the week at 3.97-trillion cubic feet, 7.2% above the five-year average.