MTECHTIPS:-U.S. natural gas futures fall to session lows after weekly

MTECHTIPS:-U.S. natural gas futures fall to session lows after weekly storage data

MTECHTIPS- U.S. natural gas futures added to losses on Thursday, falling to the lowest levels of the session after data showed that natural gas supplies in storage in the U.S. rose more than expected last week. U.S. natural gas for June delivery slipped 3.3 cents, or about 1%, to $3.196 per million British thermal units by 10:35 AM ET (14:35 GMT). Futures were at around $3.220 prior to the release of the supply data. Prices of the heating fuel rose 3.3 cents on Wednesday as traders reacted to cooler weather forecasts in the Midwest region. The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 67 billion cubic feet in the week ended April 28, disappointing forecasts for a build of 61 billion. That compared with a gain of 74 billion cubic feet in the preceding week, an increase of 68 billion a year earlier and a five-year average rise of 63 billion cubic feet. Total natural gas in storage currently stands at 2.256 trillion cubic feet, according to the U.S. Energy Information Administration, 13.7% lower than levels at this time a year ago but 13.4% above the five-year average for this time of year.
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