Natural Gas Futures Tumble After Inventories Advance
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Natural gas futures tumbled in New York, heading for the biggest weekly decline since June, after a government report showed an unexpected gain in U.S. stockpiles as mild weather reduced demand.
Gas dropped 4 percent after an Energy Department report showed supplies rose by 4 billion cubic feet last week to 3.877 trillion cubic feet, the latest seasonal gain since 2009. Analyst estimates compiled by Bloomberg showed a decline of 9 billion cubic feet. Gas has slid 7.2 percent on moderating temperatures after reaching a one-year high on Nov. 23.