Natural gas futures fall after EIA storage build
U.S. natural gas futures settled lower after the EIA said storage rose by 85 billion cubic feet in the week ended Oct. 2. The build topped the 79 bcf expected in a WSJ survey and weighed on prices.
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U.S. natural gas futures settled lower after the EIA said storage rose by 85 billion cubic feet in the week ended Oct. 2. The build topped the 79 bcf expected in a WSJ survey and weighed on prices.
U.S. natural gas futures turned lower after the EIA reported a weekly inventory increase above expectations. The build left stocks at 3,500 Bcf, 68 Bcf above the 2021-2025 average.
Natural gas futures give up gains after EIA reports underground storage rose and ended at 3,500 Bcf for the week ended Oct. 2. Nymex gas was down 0.8% at $3.177/mmBtu.
U.S. benchmark crude edged lower after the EIA reported a 3.2 million-barrel withdrawal in commercial crude oil stocks last week. Gasoline inventories rose 382,000 barrels and distillate stocks fell 42,000 barrels.
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.