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US natural gas storage drops as prices rise

January 10, 2019 4:06 PM
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US natural gas storage drops as prices rise

Mubasher: Energy Information Administration (EIA) said on Friday that the US natural gas inventories dropped by 91 billion cubic feet (Bcf) in the week ended 4 January, totalling 2,614 Bcf.

Analysts polled by S&P Global Platts expected a drop of 84 billion cubic feet, on average.

Stockpiles were 204 Bcf less than last year’s figure, while they were 464 Bcf below the five-year average of 3,078 Bcf, according to the EIA data.

By 3:52 pm, Nymex natural gas futures rose 0.80% to $3.01 per million British thermal units (MMBtu).


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