Natural Gas Crashes 9% on Surprise Build in US Inventories

Natural Gas Crashes 9% on Surprise Build in US Inventories

From fxdailyreport.com

Natural gas futures crashed on Thursday following a larger-than-expected build in domestic inventories. The energy commodity has taken a beating over the last week after soaring beyond $9 on recession fears and a key facility offline that added a handsome sum back to the market. July natural gas futures plunged $0.608, or 8.88%, to $6.25 per million British thermal units (Btu) at 15:12 GMT on Thursday on the New York Mercantile Exchange. Natural gas is poised for a weekly loss of at least 15%, but it is still up more than 66% year-to-date. According to the US Energy Information Administration (EIA), domestic supplies ... (full story)

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