BUZZ-Natgas companies' shares down on surprise storage build, lower demand forecasts

Reuters03-21
BUZZ-Natgas companies' shares down on surprise storage build, lower demand forecasts

** Shares of U.S. natural gas companies fall, tracking a decline in natgas futures NGA/

** U.S. natgas futures NGc1 down ~5% at $4.04 per million British thermal units. On Wednesday, the contract closed at its highest since March 11

** Natural gas prices dropped on a surprise storage build and forecasts for milder weather and less demand next week than previously expected

** The U.S. Energy Information Administration says utilities added 9 billion cubic feet of gas out of storage during the week ended March 14, surpassing forecasts of 3 bcf

** Shares of natgas companies NextDecade NEXT.O down 3.5% and Sempra SRE.N down ~1%

** CNX Resources CNX.N and Energy Transfer ET.N both down marginally

** ETFs United States Natural Gas Fund UNG.P and ProShares Ultra Bloomberg Natural Gas BOIL.P fall 4.1% and 8.1%, respectively

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com))

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