Natural gas futures fall after EIA storage builds 44 Bcf
EIA data showed a 44 Bcf natural gas storage build, leaving inventories at 3,298 Bcf and narrowing the surplus versus historical averages. Natural gas futures reversed lower after failing to extend a four-day rally, settling near the 50-day moving average.
Bob Iaccino of Path Trading Partners said natural gas futures reversed after failing to extend a four-day rally and settled near the 50-day moving average. He reviewed the latest EIA storage report, which showed a smaller-than-expected build of 44 Bcf, taking total inventories to 3298 Bcf and narrowing the surplus to historical averages. S. and their effect on cooling demand.