NatGas Poised To Test $4.25 As Traders Await Summer Heat

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June 26, 2014
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Natural gas inventories rose by 110 bcf last week, above expectations

 

Natural gas was last trading down by close to 2 percent to $4.46/mmbtu after the Energy Information Administration reported that operators injected 110 billion cubic feet into storage last week, above the 102 to 108 bcf most analysts were expecting.

The latest injection was above last year’s build of 95 bcf and above the five-year average build of 85 bcf.

 

 

In turn, inventories now stand at 1,829 bcf, which is 704 bcf below the year-ago level and 816 bcf below the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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