Natural Gas down 1%, EIA reports 29 BCF rise in US gas storage

Natural Gas futures eased today, sliding after a decent uptick in last session. The commodity stayed supported yesterday despite massive selling across commodities and equities but slipped today as markets eyed a rise in the US Natural Gas inventories. Working gas storage in the contiguous United States stood at 1,773 billion cubic feet in the week ending March 28, a net increase of 29 billion cubic feet or BCF from the previous week, the U.S. Energy Information Administration (EIA) said Thursday. The total working gas storage declined by 21.7 percent from this time last year, and was down by 4.3 percent from the five-year average, according to the EIA's Weekly Natural Gas Storage Report. The benchmark US Natural Gas futures are down 1% to trade at $4.09 per mmbtu after adding around 2% in the last session.

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