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 shed 1.6 cents
  • Storage up 7 Bcf
  • Cash gains reversed

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 natural gas...