Commodities
US Natural Gas Falls on Warmer Outlook, Growing Storage Surplus
US natural gas futures ended lower on forecasts showing warmer weather than previously expected in the eastern US, as well as market expectations that domestic stockpiles will increase relative to seasonally normal levels in the coming weeks as demand lowers moving into spring.
US gas storage levels, which were up by 14 billion cubic feet from the seasonal norm as of March 19, will move to a 155 bcf surplus by April 16, Eli Rubin, senior energy analyst at EBW Analytics Group, said in a Monday note to clients.