Natural gas futures prices were trading about flat in advance of the EIA’s report, at around $4.53 per million BTUs, and rose to $4.64 immediately following the report.
The weather is finally warming over most of the United States, but is expected to follow the usual spring pattern of bouncing from warmer to cooler. The weather is expected to cool off somewhat next week, increasing the demand for heating and likely keeping a lid on injections into storage.
The country’s natural gas supply fell below 1 trillion cubic feet a month ago for the first time since 2003. Analysts are divided on how much natural gas can be added to the nation’s inventory between now and October. None, however, sees inventories rising to the mid-November 2013 level of 3.83 trillion cubic feet.
The EIA reported that U.S. working stocks of natural gas totaled 826 billion cubic feet, about 997 billion cubic feet below the five-year average of 1.82 trillion cubic feet. Working gas in storage totaled 1.66 trillion cubic feet for the same period a year ago. Natural gas inventories have leveled off a bit but remain below the bottom of the five-year range.
Here is how stocks of the largest U.S. natural gas producers are reacting to this report:
Exxon Mobil Corp. (NYSE: XOM), the country’s largest producer of natural gas, was up about 0.4% to $97.70, in a 52-week range of $84.79 to $101.74.
Chesapeake Energy Corp. (NYSE: CHK) was up about 1.7%, at $26.74 in a 52-week range of $18.21 to $29.06.
EOG Resources Inc. (NYSE: EOG) was up 0.7% to $99.70. The 52-week range is $56.03 to $103.30.
ALSO READ: Stock Winners From Natural Gas Storage Depletion
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
