U. S. crude futures bounced back on Thursday, ending nearly 6 percent higher to reverse losses suffered in the previous session as Wall Street sizzled and the dollar reversed lower. New York Mercantile Exchange natural gas futures ended sharply higher Thursday, backed by a strong run up in crude and slightly supportive weekly inventory data despite concerns about high storage and sagging demand.

Kuwait has fully shut the 460,000-barrel-per-day Mina al-ahmadi oil refinery, its largest, due to a problem with the water cooling system and restart would take up to three days, an official at state refining unit KNPC said.

The U. S. Energy Information Administration report showed that total domestic gas inventories climbed to 3.023 trillion cubic feet, still a record high for this time of year and the earliest ever that stocks crossed the 3 tcf mark. Normally, storage does not break 3 tcf until mid-September.

AccuWeather. com expects temperatures in the Northeast, a key gas consuming region, to range from normal to slightly above for the next week, while the Midwest, another big gas user, will see mostly below seasonal readings for the period.

Russian oil trader Gunvor has leased a supertanker to store about 2 million barrels of crude off the U. S. Gulf Coast, helping to partly fill the shrinking volumes kept at sea worldwide, industry sources said on Thursday.

Crude oil moved up on the back of overall positive sentiments induced by good corporate results from the U. S. We don’t see any trigger for major upside movement in crude oil today.