-
US natgas prices ease on larger-than-expected storage injection
U.S. natural gas futures eased on Thursday, having hit their lowest in a month earlier in the session, as the federal data showing a bigger-than-expected storage build last week added pressure to the market. Front-month gas futures for May delivery on the New York Mercantile Exchange traded 1.9 cents lower, or 1.1%, to $1.63 per million British thermal units (mmBtu) at 10.58 a.m. EDT. The U.S. Energy Information Administration (EIA) said utilities added a larger-than-expected 92 billion cubic feet (bcf) of gas out of storage during the week ended April 19. That was more than the 82-bcf injection analysts forecast in ... (full story)