The US Energy Information Administration today reported the US natural gas stocks rose by a total of 71 billion cubic feet, in line with the 70 billion cubic feet increase that analysts had expected. Natural gas prices are about 0.08% higher this morning, at $2.42/thousand cubic feet, but a substantial $0.23 lower than a week ago.
The EIA reported that US working stocks of natural gas totaled 2.82 trillion cubic feet, about 732 billion cubic feet higher than the five-year average of 2.1 trillion cubic feet. Working gas in storage totaled 2.1 trillion cubic feet for the same period a year ago.
US natural gas stocks are about 35% higher than they were a year ago and about 35% higher than the 5-year average. Both figures are lower than they were a week ago.
Paul Ausick
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