Natural gas slipped to its lowest closing price in almost seven weeks after stockpiles grew for the first time this year and beyond market expectations. Natural gas for April delivery settled down 5.1 cents, or 1.9%, at $2.672 a million British thermal units on the New York Mercantile Exchange. It is down in five of the past six sessions and closed at its lowest point since Feb. 9. The more actively traded May contract fell 5.2 cents, or 1.9%, at $2.688/mmBtu. April options expired at the end of Thursday’s trading and the April futures contract expires at the end of Friday’s trading. The U.S. Energy Information Administration said storage levels grew by 12 billion cubic feet in the week ended March 20. That is 2 bcf more than the 10-bcf consensus average of 19 forecasters surveyed by The Wall Street Journal. The EIA […]