The US Energy Information Administration today reported the US natural gas stocks rose by a total of 61 billion cubic feet, above the 50 billion cubic feet increase that analysts had expected. Natural gas prices were about -1.5% lower this morning, at $2.578/thousand cubic feet, about $0.11 higher than a week ago.
The EIA reported that US working stocks of natural gas totaled 2.7 trillion cubic feet, about 774 billion cubic feet higher than the five-year average of 1.9 trillion cubic feet. Working gas in storage totaled 1.89 trillion cubic feet for the same period a year ago.
US natural gas stocks are about 41% higher than they were a year ago and about 41% higher than the 5-year average. Both figures are lower than they were a week ago.
Paul Ausick
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