NatGas Plunges As Inventory Builds Accelerate

May 28, 2015

Natural gas inventories rose by 112 bcf last week, more than expectations.

 

Natural gas was last trading down by 3 percent to $2.73/mmbtu after the Energy Information Administration reported that operators injected 112 billion cubic feet into storage last week, above most analyst estimates, which ranged from 100 to 107 bcf.

The latest injection was below last year’s build of 114 bcf and above the five-year average build of 96 bcf.

 

 

In turn, inventories now stand at 2,101 bcf, which is 721 bcf above the year-ago level and 25 bcf below the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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