Natural Gas Inventories Fall
The US Energy Information Administration just released natural gas inventory data for last week. Natural gas stocks have dropped by 76 billion cubic feet compared with the previous week. For the year, stocks are 356 billion cubic feet higher than…
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The US Energy Information Administration just released natural gas inventory data for last week. Natural gas stocks have dropped by 76 billion cubic feet compared with the previous week.
For the year, stocks are 356 billion cubic feet higher than a year ago and 458 billion cubic feet higher than the five-year average. The total working gas in storage is 3.47 trillion cubic feet, well above the historical five-year range.
Natural gas futures are down more than -2%, at about $3.02/thousand cubic feet. Today’s report could send prices below $3/cubic foot, a level that natural gas hit last week for the first time in more than two years.
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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.
