The EIA reported that U.S. working stocks of natural gas totaled 2.4 trillion cubic feet, about 361 billion cubic feet higher than the five-year average of 2.04 trillion cubic feet. Working gas in storage totaled 2.64 trillion cubic feet for the same period a year ago.
Weather forecasts for the next 10 days call for colder temperatures in the Midwest. Low temperatures in the east earlier this week caused a jump in spot natural gas prices on most of the major pipelines serving the region.
Here’s how stocks of the largest U.S. natural gas producers are reacting to today’s report:
Exxon Mobil Corp. (NYSE: XOM), the country’s largest producer of natural gas, is down 0.2%, at $88.79 in a 52-week range of $77.13 to $93.67.
Chesapeake Energy Corp. (NYSE: CHK) is up 0.8%, at $20.41 in a 52-week range of $13.32 to $26.09. The company reported earnings this morning before markets opened.
EOG Resources Inc. (NYSE: EOG) is down 1.3%, at $125.72 in a 52-week range of $82.48 to $138.20.
The U.S. Natural Gas Fund (NYSEMKT: UNG) is up 0.2%, at $18.36 in a 52-week range of $14.25 to $23.38. The Market Vectors Oil Services ETF (NYSEMKT: OIH) is down 1.6%, at $42.67 in a 52-week range of $32.54 to $45.14. The first fund tracks spot prices; the second includes major drillers and services companies.
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