RTRS: NYMEX natgas still down slightly after neutral EIA
NEW YORK, Sept 2 (Reuters) - Front-month U.S. natural gas
futures, off slightly early on milder U.S. weather forecasts,
remained lower Thursday morning after a government report
showed a weekly inventory build near market expectations.
At about 10:31 a.m. EDT (1431 GMT), the October natural gas
contract NGV0 slipped about 6 cents, or 1.5 percent, to an
intraday low of $3.698 per million British thermal units,
before bouncing back to the $3.71 area by 10:35, still down
about 5 cents.
Just prior to release of the weekly storage data at 10:30
a.m., the front month was trading in the $3.75 area.
The U.S. Energy Information Administration report showed
total domestic gas inventories climbed last week by 54 billion
cubic feet to 3.106 trillion cubic feet, a level not normally
reached until mid-September. [ID:nPRWPI54]
The build was in line with the Reuters estimate for a 53
bcf gain but well below the year-ago rise of 64 bcf and the
five-year average increase for that week of 62 bcf. (Reporting
by Joe Silha)
