Report Showing Substantial Stockpiles Send Gas on Slide

Bloomberg reported that natural gas futures pulled on Thursday on news that supply was higher than had been forecast.

As quoted in the market report:

Gas slipped as much as 1.7 percent after rising to $4.025 per million British thermal units, the highest price since Sept. 15, 2011. Energy Information Administration data showed that inventories fell 62 billion cubic feet in the week ended March 15 to 1.876 trillion cubic feet. Analyst estimates compiled by Bloomberg showed an expected withdrawal of 70 billion.

To view the whole Bloomberg report, click here.