Natural gas inventories rose by 89 bcf last week, at the lower end of estimates.
Natural gas was last trading down by less than 1 percent to $2.83/mmbtu after the Energy Information Administration reported that operators injected 89 billion cubic feet into storage last week, at the lower end of analyst estimates that ranged from 89 to 93 bcf.
The latest injection was below last year’s build of 113 bcf and above the five-year average build of 84 bcf.
In turn, inventories now stand at 2,433 bcf, which is 714 bcf above the year-ago level and 41 bcf above the five-year average (calculated using a slightly different methodology than the EIA).
