DJ After Buying Rumor, Natural Gas Market Sells News -- Market Talk
10:46 ET - Natural-gas futures have been on a bullish kick in recent weeks amid hope the long-running oversupply
situation would finally begin to abate. Traders and analysts were expecting a 24B cubic-foot decline in stockpile data
this morning, and they got a 25 bcf drop. A week ago, supplies actually rose three weeks earlier than usual as the
tepid winter and robust production led to an early season gain, but today's resumed decline shows it was an anomaly.
The market, which traded as much as 1.6% above yesterday's close early in the session, sells off on the news and is now
down 0.7% on the day, at $1.984 a million Btus. (christian.berthelsen@wsj.com)
(END) Dow Jones Newswires
March 31, 2016 10:47 ET (14:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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2016-03-31 14:47:07 UTC
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