Natural Gas Futures Slide

Bloomberg reported that natural gas futures declined on the heels of a government report that shows that U.S. stockpiles surpassed the five-year average.

As quoted in the market report:

Gas dropped as much as 2.6 percent after the Energy Department said inventories expanded by 67 billion cubic feet in the week ended Oct. 19 to 3.843 trillion cubic feet. Analyst estimates compiled by Bloomberg showed a gain of 67 billion. A survey of Bloomberg users predicted an increase of 66 billion. Supplies rose to a record 3.852 trillion cubic feet last year.

To view the whole Bloomberg report, click here.