Small Inventory Builds Put Natural Gas Bull Back On Track, Prices Poised To Break Above $4.40

May 23, 2013

We examine the latest developments in the natural gas market.

Natural gas rallied after the Energy Information Administration reported that operators injected 89 billion cubic feet into storage last week, within the 87 to 93 bcf range most analysts were expecting.

The injection was above last year’s build of 77 bcf, but in line with the five-year average build of 89 bcf.

 

 

In turn, inventories now stand at 2,053 bcf, which is 691 bcf below the year-ago level and 78 bcf below the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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