Natural Gas Prices Slide After Inventories Fall Less Than Expected

By Midnight Trader,  April 07, 2011, 12:38:23 PM EDT

Natural gas prices fell more than 2% in morning trading, after the Energy Information Administration reported that natural gas stocks dropped by 45 billion cubic feet last week, less than the 49- to 53-billion-cubic-foot drop that analysts were expecting.

Consumers used a record 2.87 trillion cubic feet in January, but inventories in excess of 1.5 trillion cubic feet remains above the five-year average, according to the AP. Natural gas for May delivery is down 1.9%, to $4.07 per million British thermal units. Crude oil is trading over $109 a barrel.

The United States Natural Gas exchange traded fund is trading at $10.67, down

$0.18, or 1.66%.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks:



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