Natural Gas Falls on Worries of Widening Storage Surplus

1450 ET – Natural gas prices fall 4.3% to end at $2.093/mmBtu as investors bet that storage reports over the next few weeks will be bearish, causing an inventory surplus to balloon back to 20% or more above normal. For tomorrow’s EIA storage data, analysts surveyed by WSJ are forecasting a 28B cubic feet injection that would precisely match the five-year average, and would keep a storage surplus at about 19% above average. “However,” says NatGasWeather.com in a note, “the next two builds will be larger than normal after factoring the current exceptionally light demand pattern.”