U.S. Natural Gas Prices Tank on Inventory Build, Lower Demand

U.S. natural gas prices fell on Thursday after the EIA reported a larger-than-expected inventory build coupled with forecasts for milder weather and less demand next week. Natural gas futures were down 4.6% to trade at $4.05/MMBtu at 11.00 am ET, reversing the multi-year high of $4.35/MMBtu they reached on March 10.

U.S. utilities added 9 billion cubic feet of gas to storage for the week ending March 14, way higher than the forecast of 3 billion cubic feet. This marked the first inventory increase since November 2024, cutting the storage deficit.…