The U.S. Energy Information Administration (EIA) today reported that U.S. natural gas stocks rose by a total of 26 billion cubic feet, in line with analysts expectations. Natural gas futures prices are about 1% higher this morning, at $3.10 per thousand cubic feet.
The EIA reported that U.S. working stocks of natural gas totaled 3.19 trillion cubic feet, about 435 billion cubic feet more than the five-year average of 2.75 trillion cubic feet. Working gas in storage totaled 2.7 trillion cubic feet for the same period a year ago.
U.S. natural gas inventories are about 18% higher than they were a year ago and nearly 16% higher than the five-year average. Both figures are lower than they were a week ago.
Natural gas futures prices are about 63% higher than they were at their low point of $1.90 per thousand cubic feet in April of this year. Prices are rising…
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