BTCC
/
BTCC Square
/
Global Cryptocurrency
/
U.S. Natural Gas Futures Drop Sharply on Surprise Inventory Build
U.S. Natural Gas Futures Drop Sharply on Surprise Inventory Build
8
2
BTCCSquare news:
U.S. natural gas futures tumbled more than 5% Thursday, breaking below the key $3 threshold after government data revealed an unexpected inventory surge. The Energy Information Administration reported a 90 billion cubic feet storage increase—12 Bcf above analyst estimates—despite unseasonably warm weather forecasts that typically boost demand.
Market sentiment turned bearish as the data exposed underlying softness in gas consumption. Storage levels now stand 204 Bcf above the five-year average, suggesting ample supply even as NatGasWeather predicts sustained high temperatures across interior states through late September.
By:
