Natgas companies gain on larger-than-expected storage draw

Shares of U.S. natural gas companies rise as natgas futures recover from more than a one-week low earlier in the session NGA/

U.S. natgas futures NGc1 up 1.5% at $4.14 per million British thermal units (mmBtu), after hitting their lowest level since March 3

Natural gas prices rose after a federal report showed last week's storage draw was bigger than expected

The U.S. Energy Information Administration (EIA) said energy firms pulled 62 billion cubic feet (bcf) of gas out of storage during the week ended March 7

That was bigger than the 54-bcf withdrawal analysts forecast in a Reuters poll

Natgas companies CNX Resources CNX.N up 2.5% and EQT Corp EQT.N rises 1%

ETFs - United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P rises 1.6% and 3.8%, respectively