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The US Energy Information Administration (EIA) reported on Thursday that the country’s natural gas storage climbed by 33 billion cubic feet (Bcf) the week ended 10 August. reaching a total of 2.387 Bcf.
This came slightly higher than expectations that the domestic natural gas supplies to rise 30 Bcf. according to economists polled by S&.P Global Platts.
Inventories were 687 Bcf lower than last year’s figure. whereas they were 595 Bcf below the five-year average of 2.982 Bcf. the EIA data estimated.
Following the release of the report. Nymex natural gas futures fell 0.24% by 2:20 pm to $2.93 per million British Thermal Units (MMBtu).
