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Barchart
Barchart
Rich Asplund

Nat-Gas Prices Retreat on Expectations for US Storage Levels to Build

United States EIA BNEF Natural Gas

June Nymex natural gas (NGM26) on Wednesday closed down -0.110 (-3.53%).

Nat-gas prices on Wednesday fell from an 8-week nearest-future high and settled sharply lower. Abundant US nat-gas supplies, along with expectations that storage levels will continue to build, pressured prices on Wednesday. The consensus is that Thursday's weekly EIA nat-gas inventories will increase by +98 bcf for the week ended May 15, above the five-year average for the week of +92 bcf.

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