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Largely Anticipated Bearish Storage Build Sends Natural Gas Futures Tumbling

Natural Gas Intelligence · last updated

The U.S. Energy Information Administration (EIA) reported 37 Bcf injected into natural gas inventories for the week ending March 21. The build aligned with expectations and sent April Nymex natural gas futures lower on its final day as the lead contract.

Natural Gas Intelligence's (NGI) U.S. Energy Information Administration natural gas storage chart.

Ahead of the print, the prompt month was 2.1 cents lower on the day at $3.840/MMBtu. Immediately following the release at 10:30 a.m. ET, the contract slid to $3.834. By 11:00 a.m., April futures were down 4.5 cents to $3.816.

Meanwhile, May futures were down 3.1 cents at $3.841 ahead of the release, and fell 5.9 cents to $3.813 following the print and ahead of pulling into the lead position Friday.

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