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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Fall Sharply on Abundant U.S. Nat-Gas Supplies

April Nymex natural gas (NGJ24) on Thursday closed -0.111 (-5.75%).

Nat-gas prices on Thursday fell sharply on abundant U.S. nat-gas stockpiles.  Thursday's weekly EIA nat-gas inventories fell -40 bcf, right on expectations.  However, that was a much smaller draw than the five-year average for this time of year at -93 bcf.  That kept U.S. nat-gas inventories well-supplied at +30.9% above the five-year average.  Also, forecaster Atmospheric G2 said on Thursday that "early spring weather will continue to support much lower-than-average heating demand" for the U.S. between March 12 and 16.  

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