DJ Natural Gas Prices Fall on Smaller-Than-Expected Stockpile Drain
By Timothy Puko
Natural gas futures added to losses Thursday after federal data showed U.S. storage levels didn't fall as far as
expected last week.
Storage levels shrank by 216 billion cubic feet in the week ended Jan. 16, the U.S. Energy Information
Administration said. The drain was 11 bcf smaller than the 227 bcf expected on average by 19 forecasters surveyed by
The Wall Street Journal.
The smaller-than-expected drain caused prices to drop another 8 cents, or 2.7%, on top of losses from earlier in
the morning. The front-month February contract recently traded down 14.4 cents, or 4.8%, at $2.83/mmBtu on the New York
Mercantile Exchange.
The drain brought storage levels to 2.6 trillion cubic feet, 8.2% more than a year ago and 5.5% below the
five-year average.
Write to Timothy Puko at tim.puko@wsj.com
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(END) Dow Jones Newswires
January 22, 2015 10:56 ET (15:56 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
012215 15:56 -- GMT
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