We examine the latest developments in the natural gas market.
Natural gas was last trading fractionally lower at $3.56/mmbtu after the Energy Information Administration reported that operators injected 67 billion cubic feet into storage last week, above most analysts’ expectations of a 62 bcf build.
The build was above last year’s build of 66 bcf and equal to the five-year average build of 63 bcf.
In turn, inventories now stand at 3,130 bcf, which is 244 bcf below the year-ago level and 50 bcf above the five-year average (calculated using a slightly different methodology than the EIA).
