Natural gas futures declined in New York after a government report showed the earliest seasonal gain in U.S. inventories since 2007. Gas dropped 3.9 percent after the Energy Department said U.S. stockpiles expanded by 11 billion cubic feet last week to 2.38 trillion. The five-year average change for the week is a drop of 17 billion cubic feet. Gas for April delivery fell 9.1 cents to settle at $2.269 per million British thermal units on the New York Mercantile Exchange. The futures, down 24 percent this year, fell to $2.204 per million Btu on March 13, the lowest intraday price since February 2002.
Natural gas drops again
Natural gas futures declined in New York after a government report showed the earliest seasonal gain in U.S. inventories since 2007. Gas dropped 3.9 percent after the Energy Department said U.S. stockpiles expanded by 11 billion cubic feet last week to 2.38 trillion. The five-year average change for the week is a drop of 17 billion cubic feet. Gas for April delivery fell 9.1 cents to settle at $2.269 per million British thermal units on the New York Mercantile Exchange. The futures, down 24 percent this year, fell to $2.204 per million Btu on March 13, the lowest intraday price since February 2002.