Natgas stocks fall on big US storage build, lower demand

Tellurian

11/04/2024 18:38

** Shares of natural gas companies fall, tracking declining
natgas futures  NGc1 
    ** U.S. natural gas futures ease ~5.3%, following a
bigger-than-expected storage build; Energy Information
Administration says utilities added 24 billion cubic feet of gas
storage in the week ended April 5  NGA/ 
    ** Prices also weighed down by forecasts for lower demand
over the next two weeks than previously expected, due to a drop
in feedgas to the Freeport LNG export plant in Texas
    ** Producers CNX Resources  CNX.N , Chesapeake Energy
 CHK.O  and EQT Corp  EQT.N  fall between 1.5% and 2.5%
    ** Shares of Williams  WMB.N , Sempra  SRE.N  and Tellurian
 TELL.A  drop between 1.3% and 3.5%
    ** ETFs United States Natural Gas Fund  UNG.P  and ProShares
Ultra Bloomberg Natural Gas  BOIL.P  lose 4.6% and 4.4%,
respectively

 (Reporting by Vallari Srivastava in Bengaluru)
 ((Srivastava.Vallari@thomsonreuters.com;))