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U.S. natgas drops 4% to 2-month low on big storage build

From nasdaq.com

U.S. natural gas futures dropped about 4% to a two-month low on Thursday on a bigger than expected storage build, record output and forecasts for milder weather through early October that should allow utilities to keep injecting more gas than usual into storage in coming weeks. The U.S. Energy Information Administration (EIA) said utilities added 103 billion cubic feet (bcf) of gas to storage during the week ended Sept. 16. Traders said that build was bigger than usual as mild weather and an increase in wind power last week kept the amount of gas power generators burned low. That was also bigger than the 93-bcf build ... (full story)

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  • Category: Fundamental Analysis