The EIA reported that U.S. working stocks of natural gas totaled 1.7 trillion cubic feet, about 74 billion cubic feet lower than the five-year average of 1.77 trillion cubic feet. Working gas in storage totaled 2.5 trillion cubic feet for the same period a year ago.
Chilly late-winter weather continues to drive demand for natural gas, even though stocks rose this past week. More cold weather is forecast for the coming week, but natural gas prices may begin to moderate now that utilities are switching back to lower-priced coal. May natural gas futures posted a high of $4.29 per million BTUs on Monday, the highest finish for natural gas in 20 months.
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 down fractionally to $86.05, in a 52-week range of $77.13 to $93.67.
Chesapeake Energy Corp. (NYSE: CHK) is up about 1.1%, at $18.67 in a 52-week range of $13.32 to $22.97.
EOG Resources Inc. (NYSE: EOG) is down 1.2%, at $113.46 in a 52-week range of $82.48 to $138.20.
The U.S. Natural Gas Fund (NYSEMKT: UNG) is up 2.9% at $23.53 in a 52-week range of $14.25 to $23.58. The Market Vectors Oil Services ETF (NYSEMKT: OIH) is up about 0.9% at $40.05 in a 52-week range of $32.54 to $45.12. The first fund tracks spot prices; the second includes major drillers and services companies.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.