Natural gas was last trading down by less than 1 percent to $3.80/mmbtu after the Energy Information Administration reported that operators injected 88 billion cubic feet into storage last week, above the 81 to 85 bcf range of analyst estimates.
The latest injection was above last year’s build of 57 bcf and above the five-year average build of 47 bcf.
In turn, inventories now stand at 2,555 bcf, which is 508 bcf below the year-ago level and 529 bcf below the five-year average (calculated using a slightly different methodology than the EIA). (more)
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