Natural gas futures lost ground Thursday following the release of U.S. Energy Information Administration (EIA) storage data, which outlined a small injection into inventories for the week ended March 15.

At A Glance:

  • Futures end 1.6 cents lower
  • EIA reports 7 Bcf build
  • Cash thwarts weather

April Nymex natural gas futures settled at $1.683/MMBtu, down 1.6 cents day/day. The contract was under pressure most of the session. It briefly traded to a $1.713 high and then sunk to a $1.651 low. The May contract closed down 1.4 cents at $1.831.

NGI’s Spot Gas National Avg. fell 13.5 cents to $1.335. Prices were lower at most locations despite weather support. 

LNG feed gas flows were lower on Thursday, supporting early market weakness. Total deliveries to all domestic liquefied...