NatGas Hits $3 Despite Huge Inventory Build, But Uptrend Won’t Last

May 14, 2015

Natural gas inventories rose by 111 bcf last week, less than expectations.

 

Natural gas was last trading up by 2 percent to $3/mmbtu after the Energy Information Administration reported that operators injected 111 billion cubic feet into storage last week, less than most analyst estimates, which ranged from 117 to 120 bcf.

The latest injection was above last year’s build of 105 bcf and above the five-year average build of 86 bcf.

 

 

In turn, inventories now stand at 1,897 bcf, which is 737 bcf above the year-ago level and 44 bcf below the five-year average (calculated using a slightly different methodology than the EIA).

 

 

 

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