The EIA reported that U.S. working stocks of natural gas totaled 2.08 trillion cubic feet, about 269 billion cubic feet higher than the five-year average of 1.81 trillion cubic feet. Working gas in storage totaled 2.44 trillion cubic feet for the same period a year ago.
Natural gas prices have been getting a boost from nuclear power plant outages, but the total outage is dropping slightly. Weather forecasts for the next 10 days call for below-normal temperatures in the eastern half of the U.S., and above-normal temperatures in the West.
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 $89.35 in a 52-week range of $77.13 to $93.67.
Chesapeake Energy Corp. (NYSE: CHK) is up 1%, at $19.93 in a 52-week range of $13.32 to $26.09.
EOG Resources Inc. (NYSE: EOG) is up 0.8%, at $126.60 in a 52-week range of $82.48 to $138.20.
The U.S. Natural Gas Fund (NYSEMKT: UNG) is up 3%, at $19.75 in a 52-week range of $14.25 to $23.38. The Market Vectors Oil Services ETF (NYSEMKT: OIH) is up 0.4%, at $42.52 in a 52-week range of $32.54 to $45.12. The first fund tracks spot prices; the second includes major drillers and services companies.
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