Natural Gas Inventories Rise Slightly, Price Essentially Flat

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The US Energy Information Administration today reported the US natural gas stocks rose by a total of 30 billion cubic feet, identical with the increase that analysts had expected. Natural gas prices were about -1% lower before the EIA released its report, and have risen to a point where prices are roughly where they were at the open today, $2.468/thousand cubic feet.

The EIA reported that US working stocks of natural gas totaled 2.6 trillion cubic feet, about 799 billion cubic feet higher than the five-year average of 1.8 trillion cubic feet. Working gas in storage totaled 1.81 trillion cubic feet for the same period a year ago.

US natural gas stocks are about 44% higher than they were a year ago and about 45% higher than the 5-year average. Both figures are lower than they were a week ago.

Paul Ausick