RTRS: NYMEX natgas slides early after EIA stock draw
NEW YORK, March 24 (Reuters) - Front-month U.S. natural gas
futures reversed course and headed lower early Thursday after a
government report showed a weekly inventory draw in line with
market expectations.
The U.S. Energy Information Administration report showed
total domestic gas inventories fell last week by 6 billion
cubic feet to 1.612 trillion cubic feet. [ID:nPRWPI54]
At about 10:35 a.m. EDT (1435 GMT), the NYMEX front-month
futures contract NGc1 slid 5.9 cents, or 1.4 percent, to
$4.276 per million British thermal units. Just prior to release
of the weekly storage data at 10:30 a.m., the front month was
trading in the $4.36 area.
(Reporting by Joe Silha)
