Natural gas rose to near $4.40/mmbtu today after the Energy
Information Administration reported that operators injected 31 billion
cubic feet into storage last week, below the 33 to 38 bcf build most
analysts were expecting.
The injection was above last year’s build of 23 bcf, but below the five-year average build of 41 bcf.
In turn, inventories now stand at 1,704 bcf, which is 797 bcf below
the year-ago level and 69 bcf below the five-year average (calculated
using a slightly different methodology than the EIA). (more)
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