U.S. natural gas futures held steady on Thursday as some cooler weather forecasts offset a surprise build in weekly inventories, the first ever recorded increase in stockpiles in February. The U.S. Energy Information Administration (EIA) said utilities added 7 billion cubic feet (bcf) of gas into storage during the week ended Feb. 24, the only build on record during the month of February, according to data going back to 1994. That compared with analysts' forecast for a draw of 4 bcf in a Reuters poll and declines of 67 bcf during the same week a year earlier, and the five-year average of 132 bcf for that week.
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