1532 ET - Natural gas futures settle slightly lower after the EIA reports a 261 Bcf storage withdrawal for last week, which is close to expectations and widens the deficit versus last year and the five-year average. "With April now on the front of the forward curve and the Nymex winter in the books, the market is trying to assess the lasting impact of this winter's strong storage drawdown, with the summer 2025 strip priced well above $4.00 per mmBtu heading into the shoulder season," Andy Huenefeld of Pinebrook Energy Advisors says in a note. "We currently project storage inventories to find a seasonal bottom near or below 1.6 Tcf before net injections begin in April." The April contract settles down 0.6% at $3.934/mmBtu. (anthony.harrup@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 15:32 ET (20:32 GMT)
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