Natural gas decline to be interrupted by US polar vortex in a week

It is a week before the polar vortex comes to the United States. However, on Wednesday, natural gas still went into a sell-off mode. Players took profits and tried to correct the market, which jumped almost 30% over the past five sessions.

A report from Gelber & Associates says there is just over a week left before a massive polar vortex hits the US. Most of the country will be covered by ice and snow. It also states that the NYMEX front-month gas futures are selling off at around $6.50.

According to traders, Wednesday's market reversal was notable because the approaching Arctic winter will probably be the coldest since 2010.

Ahead of the weekly gas storage update from the Energy Information Administration's (EIA), U.S. utilities are expected to have drawn 45 billion cubic feet from inventories this week. Last week, however, only 21 billion cubic feet of gas were drawn.