Dow Jones - Natural Gas Falls On Larger-Than-Expected Storage Build

DJ Natural Gas Falls on Larger-Than-Expected Storage Build



  By Nicole Friedman


  NEW YORK--Natural-gas prices fell Thursday after weekly inventory data showed that supplies grew more than expected
last week.

  Producers put 73 billion cubic feet of natural gas into storage last week, the U.S. Energy Information Administration
said Thursday. Analysts and traders surveyed by The Wall Street Journal had expected an increase of 72 bcf.

  Robust production has created a surplus of natural gas this summer.

  Stockpiles now stand at 3.334 trillion cubic feet, 3.9% above the five-year average for this week.

  Futures for October delivery settled down 0.8 cent, or 0.3%, to $2.652 a million British thermal units on the New
York Mercantile Exchange.

  Demand for natural gas rises in hot weather, as consumers use more gas-powered electricity to run air conditioners.

  Above-average temperatures are expected across much the U.S. in the next six to 10 days, according to forecaster WSI
Corp.

  However, "above-normal temperature, as we near the end of September, is just not as meaningful as above-normal
temperature at the beginning of September," said Teri Viswanath, director of commodity strategy for natural gas at BNP
Paribas SA.


  Write to Nicole Friedman at nicole.friedman@wsj.com


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  (END) Dow Jones Newswires

  September 17, 2015 15:34 ET (19:34 GMT)

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