Natural Gas Inventories Rise Moderately, Prices Higher
The US Energy Information Administration today reported the US natural gas stocks rose by a total of 47 billion cubic feet, just slightly above the 45 billion cubic feet increase that analysts had expected. Natural gas prices were 3.24% higher…
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The EIA reported that US working stocks of natural gas totaled 2.55 trillion cubic feet, about 908 billion cubic feet higher than the five-year average of 1.64 trillion cubic feet. Working gas in storage totaled 1.68 trillion cubic feet for the same period a year ago.
Natural gas prices have gotten a boost this week from a cool snap in the US Northeast, which has raised prices back above $2/thousand cubic feet.
US natural gas stocks are about 53% higher than they were a year ago and about 56% higher than the 5-year average.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.