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Natural Gas Prices Rise Sharply After Inventory Report

From 247wallst.com

Natural gas futures prices were trading down about 0.3% in advance of the EIA’s report, at around $3.77 per million BTUs, and rose to around $3.85 immediately following the report. For the same week a year ago, stockpiles rose by 59 billion cubic feet. Stockpiles are about 18.7% below their levels of a year ago and about 21.7% below the five-year average. The EIA has said that less than halfway through the summer storage injection season, natural gas storage is on its way to a record overall build. The EIA now projects a build of 2.6 trillion cubic feet for the season beginning in April and running through October. ... (full story)

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