Natural gas drops as supplies rise in line with expectations

31 May

Natural gas prices dropped in U.S. trading on Thursday after official data revealed U.S. supplies grew in line with expectations.

In the New York Mercantile Exchange, natural gas futures for delivery in July traded at USD4.021 per million British thermal units, down 3.91%.

The commodity hit a session low of USD4.013 and a high of USD4.184.

The U.S. Energy Information Administration said in its weekly report earlier that natural gas storage in the U.S. in the week ending May 24 rose by a healthy 88 billion cubic feet, broadly in line with market expectations.

Read more: Natural gas drops as supplies rise in line with expectations.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: