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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Retreat on a Larger-Than-Expected Build in Weekly Gas Storage

November Nymex natural gas (NGX25) on Thursday closed down by -0.064 (-1.92%).

Nov nat-gas prices tumbled to a 1-week low on Thursday and settled sharply lower after weekly EIA nat-gas stockpiles rose more than expected.  The EIA reported that nat-gas inventories rose +80 bcf for the week ended October 3, above expectations of +77 bcf.  Losses in nat-gas prices were limited due to forecasts for cooler US temperatures, which could boost heating demand for nat-gas.   Forecaster Vaisala said Thursday that forecasts shifted cooler in the East for October 14-18 and shifted colder in the middle two-thirds of the US for October 19-23.

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