Natural Gas Prices Fall to 2012 Low After Larger-Than-Expected Addition to Stockpiles
Natural gas dove to its lowest point since June 2012 after stockpiles grew more than expected at a time of year when they usually decline.
The U.S. Energy Information Administration said storage levels grew by 15 billion cubic feet in the week ended April 3. That is 5 bcf more than the 10-bcf average estimate of 18 forecasters surveyed by The Wall Street Journal.
The EIA update is widely considered one of the best measures of supply and demand. This draw would indicate larger supply or smaller demand than expected.
