NatGas Weekly Injections Must Double To Refill Inventories

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April 24, 2014
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Natural gas inventories rose by 49 bcf last week, below expectations.

 

Natural gas was last trading down fractionally to $4.71/mmbtu after the Energy Information Administration reported that operators injected 49 billion cubic feet into storage last week, above the 40 to 45 bcf that most analysts were expecting.

The latest injection was above last year’s build of 30 bcf and equal to the five-year average build of 49 bcf.

In turn, inventories now stand at 899 bcf, which is 835 bcf below the year-ago level and 1,002 bcf below the five-year average (calculated using a slightly different methodology than the EIA).

 

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