Natural gas inventories rose by 75 bcf last week, at the lower end of estimates.
Natural gas was last trading up by about 2 percent to $2.82/mmbtu after the Energy Information Administration reported that operators injected 75 billion cubic feet into storage last week, at the lower end of analyst estimates, which ranged from 75 to 80 bcf.
The latest injection was below last year’s build of 110 bcf and above the five-year average build of 88 bcf.
In turn, inventories now stand at 2,508 bcf, which is 679 bcf above the year-ago level and 27 bcf above the five-year average (calculated using a slightly different methodology than the EIA).
