Natural Gas Trades Below $3.000 per Btu as U.S. Supplies Fall Less Than Expected

U.S. natural gas futures prices dropped nearly 0.5 percent to trade under $3.000 per million British thermal units on Thursday after a weekly report showed that domestic supplies of natural gas fell less than expected last week.

The U.S. Energy Information Administration on Thursday reported that the country’s natural gas storage declined by 150 billion cubic feet for the week ended March 17, which was slightly less than the drop of 153 billion cubic feet expected by analysts.

According to the report, total stocks now stand at 2.092 trillion cubic feet, down 399 billion cubic feet from a year ago, but 266 billion cubic feet above the five-year average, the government said.

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