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Barchart
Rich Asplund

Expectations for a Weekly Storage Build Knock Nat-Gas Prices Lower

United States EIA Nymex Natural Gas BNEF

May Nymex natural gas (NGK26) on Wednesday closed down -0.065 (-2.25%).

Nat-gas prices fell to a 5-week nearest-futures low on Wednesday as recent above-normal spring temperatures have reduced nat-gas heating demand and allowed storage levels to build.  The consensus is that Thursday's weekly EIA nat-gas inventories rose +38 bcf for the week ended March 27, well above the five-year average for the week of a -4 bcf draw.

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