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Barchart
Rich Asplund

Nat-Gas Prices Retreat as U.S. EIA Inventories Rise More Than Forecast

EIA United States Nymex BNEF Natural Gas

June Nymex natural gas (NGM23) on Thursday closed down -0.069 (-3.19%).

Jun nat-gas Thursday fell to a 3-week low and closed moderately lower.  A larger-than-expected build in weekly U.S. nat-gas supplies weighed on prices after the EIA reported U.S. nat-gas inventories rose +54 bcf last week, more than expectations of +52 bcf.  Also, reduced heating demand for nat-gas is bearish for prices after forecaster Atmospheric G2 said milder-than-usual weather is seen across the eastern two-thirds of the U.S. next week.

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