DJ Natural Gas Prices Fall to 11-Month Low Ahead of Storage Report
By Matt Day
NEW YORK--Natural-gas prices slid to the lowest level in nearly a year on Thursday as traders awaited data expected
to show U.S. stockpiles of the fuel last week increased by more than average for this time of year.
Natural gas for November delivery fell 4.1 cents, or 1.1%, to $3.618 a million British thermal units on the New York
Mercantile Exchange. Futures early Thursday slumped to $3.609/mmBtu, the lowest price since November 2013.
Prices have fallen in six of the past seven trading days, weighed by record production. Demand, meanwhile, has been
tempered by mild weather that kept gas-powered heaters off at homes and businesses.
Meteorologists with MDA Weather Services expect warmer-than-normal temperatures to last through the end of the month
in major gas-consuming cities across the Midwest and the Northeast.
"Record production levels of gas, a cool summer and a mild fall continue to depress the market," analysts with
Tradition Energy said in a note.
The Energy Information Administration is expected to report that the amount of natural gas in U.S. storage rose last
week by 40% more than average for this time of year. Analysts surveyed by The Wall Street Journal expect the government
data to show 97 billion cubic feet of gas was added to storage during the week ended Oct. 17.
The EIA is scheduled to release its data for the week at 10:30 a.m. EDT.
Write to Matt Day at matt.day@wsj.com
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(END) Dow Jones Newswires
October 23, 2014 09:20 ET (13:20 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
102314 13:20 -- GMT
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