Natural Gas Inventories, Prices Fall
The US Energy Information Administration today reported the US natural gas stocks fell by a total of 95 billion cubic feet, more than the drawdown of 86-90 billion cubic feet that analysts had expected. Natural gas prices responded by falling…
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The US Energy Information Administration today reported the US natural gas stocks fell by a total of 95 billion cubic feet, more than the drawdown of 86-90 billion cubic feet that analysts had expected. Natural gas prices responded by falling slightly from $2.75/thousand cubic feet to $2.73/thousand cubic feet.
The EIA reported that US working stocks of natural gas totaled 3.78 trillion cubic feet, about 490 billion cubic feet higher than the five-year average of 2.89 trillion cubic feet. Working gas in storage totaled 2.8 trillion cubic feet for the same period a year ago.
Natural gas inventories are 13.4% higher than last week and 17% higher than the five-year average.
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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.