NatGas Gets Technical Bounce After Inventory Build, But Prices Haven’t Bottomed

August 15, 2013

We examine the latest developments in the natural gas market.

 

Natural gas was last trading up by more than 2 percent to $3.40/mmbtu after the Energy Information Administration reported that operators injected 65 billion cubic feet into storage last week, below the 67 to 72 bcf build most analysts were expecting.

However, the build was above last year’s build of 20 bcf and the five-year average build of 44 bcf.

 

 

 

In turn, inventories now stand at 3,006 bcf, which is 255 bcf below the year-ago level and 46 bcf above the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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