The US EIA reported that US natural gas stocks increased by 20 billion ft3 for the week ending 1st November. A build of approximately 23 billion ft3 was actually anticipated by analysts.
Working stocks of natural gas reached 3.83 trillion ft3 which is 58 billion ft3 higher than the five year average. Working gas storage hit 3.91 trillion ft3 at the same time last year. Natural gas inventories are in the middle of the five year range.
Stocks and prices
After the release of the report here is how stocks of major gas producers reacted:
- ExxonMobil Corp, up 0.2%.
- Chesapeake Energy Corp, down 0.5%.
- EOG Resources Inc., down 0.6%.
Adapted from press release by Claira Lloyd