The US Energy Information Administration today reported the US natural gas stocks rose by a total of 62 billion cubic feet, considerably above the 53-57 billion cubic feet increase that analysts had expected. Natural gas prices are more than -4.5% lower this morning, at $2.31/thousand cubic feet, about $0.11/thousand cubic feet lower than a week ago.
The EIA reported that US working stocks of natural gas totaled 2.88 trillion cubic feet, about 687 billion cubic feet higher than the five-year average of 2.2 trillion cubic feet. Working gas in storage totaled 2.16 trillion cubic feet for the same period a year ago.
US natural gas inventories are about 33% higher than they were a year ago and about 31% higher than the 5-year average. Both figures are lower than they were a week ago.
Exxon Mobil Corp. (NYSE: XOM), the country’s largest producer of natural gas, is up about 0.5% at $80.54 in a 52-week range of $67.03-$87.94. Cheseapeake Energy Corp. (NYSE: CHK) is up about 0.4% at $18.29 in a 52-week range of $13.32-$35.75. EOG Resources Inc. (NYSE: EOG) is up about 0.6% at $95.47 in a 52-week range of $66.81-$119.97.
The US Natural Gas Fund (AMEX: UNG) is down about -4.3% at $16.11 in a 52-week range of $14.25-$50.56. The ETF reflects only natural gas futures for the near-month contract and is a reasonable substitute for the commodity price.
Paul Ausick
It’s Your Money, Your Future—Own It (sponsor)
Retirement can be daunting, but it doesn’t need to be.
Imagine having an expert in your corner to help you with your financial goals. Someone to help you determine if you’re ahead, behind, or right on track. With SmartAsset, that’s not just a dream—it’s reality. This free tool connects you with pre-screened financial advisors who work in your best interests. It’s quick, it’s easy, so take the leap today and start planning smarter!
Don’t waste another minute; get started right here and help your retirement dreams become a retirement reality.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
