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US natgas futures extend loss after neutral build
September 13, 2012 / 2:46 PM / 5 years ago

US natgas futures extend loss after neutral build

NEW YORK, Sept 13 (Reuters) - Front-month U.S. natural gas futures extended losses early on Thursday despite a government report showing a weekly inventory build in line with market expectations.

The U.S. Energy Information Administration said domestic gas inventories rose last week by 27 billion cubic feet to 3.429 trillion cubic feet. Traders and analysts polled by Reuters had expected a 28-bcf gain.

At 10:31 a.m. EDT (1431 GMT), front-month gas futures on the New York Mercantile Exchange were down 10.3 cents, or 3.4 percent, at an intraday low of $2.96 per million British thermal units.

Prior to the release of the weekly storage data at 10:30 a.m., the front month was trading in the $3.02 area. (Reporting by Joe Silha; Editing by Dale Hudson) (joe.silha@thomsonreuters.com; +1 646 223 6071; Reuters Messaging: joe.silha.reuters.com@reuters.net)

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