Natural gas price slides to $2.81 as UNG drops; traders eye March 5 EIA report
U.S. natural gas futures fell 2% to $2.81 per mmBtu Thursday, pressured by mild March weather forecasts and steady output. The United States Natural Gas Fund dropped 2.4% to $11.32. Lower 48 production averaged 108.7 bcfd in February, while LNG export flows neared 18.7 bcfd. Gas in storage stood at 2,018 Bcf for the week ended Feb. 20, down 52 Bcf from the previous week.