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

• March 20, 2025

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

** U.S. natgas futures NG1! 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 down 3.5% and Sempra SRE down ~1%

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

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