• BREAKING: U.S. EIA on Thursday reported a withdrawal of 11 Bcf from natural gas storage for the week ended March 12
  • April Nymex contract declined 3.4 cents day/day on Wednesday and settled at $2.528/MMBtu

Natural gas futures dropped back into the red on Wednesday as traders mulled forecasts for mild spring weather and its dampening effect on demand along with polls that showed expectations for only a modest storage withdrawal.

EIA storage march 12

The April Nymex contract declined 3.4 cents day/day and settled at $2.528/MMBtu. May fell 4.2 cents to $2.555.

The prompt month had gained 11.6 cents Tuesday, a rare advance in March, though analysts attributed that bounce in part to technically oversold conditions. Robust liquefied natural gas (LNG) levels – above 11 Bcf/d throughout this week,...