The EIA reported that U.S. working stocks of natural gas totaled 3.17 trillion cubic feet, about 316 billion cubic feet higher than the five-year average of 2.85 trillion cubic feet. Working gas in storage totaled 3.3 trillion cubic feet for the same period a year ago.
Storage levels have fallen into the high end of the five-year range, even though the draw on stocks was well below last week’s draw of 201 billion cubic feet. Gas prices remain about 11% below recent highs around $3.93 per thousand cubic feet.
Here’s how stocks of the largest U.S. natural gas producers are reacting to today’s report:
Exxon Mobil Corp. (NYSE: XOM), the country’s largest producer of natural gas, is up about 0.7% at $90.05 in a 52-week range of $77.13 to $93.67.
Chesapeake Energy Corp. (NYSE: CHK) is up about 1.8% at $17.61 in a 52-week range of $13.32 to $26.09.
EOG Resources Inc. (NYSE: EOG) is up fractionally at $125.46, in a 52-week range of $82.48 to $126.45.
The U.S. Natural Gas Fund (NYSEMKT: UNG) is up 2.3% at $19.75 in a 52-week range of $14.25 to $23.92. The Market Vectors Oil Services ETF (NYSEMKT: OIH) is up about 0.3% at $41.03 in a 52-week range of $32.54 to $45.14. The first fund tracks spot prices; the second includes major drillers and services companies.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the
advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.