The U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks rose by a total of 21 billion cubic feet, below the 27 billion cubic feet that analysts were expecting. Natural gas futures prices were about 1% lower in advance of the EIA’s report at around $3.54 per thousand cubic feet, and remain unchanged immediately following the EIA report.
The EIA reported that U.S. working stocks of natural gas totaled 3.93 trillion cubic feet, about 244 billion cubic feet higher than the five-year average of 3.69 trillion cubic feet. Working gas in storage totaled 3.82 trillion cubic feet for the same period a year ago.
U.S. natural gas inventories are about 3% higher than they were a year ago and about 6.6% higher than the five-year average.
Natural gas futures prices are about 86% higher than they were at their low point of $1.90 per thousand cubic feet…
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