On Tuesday 22nd October the US EIA reported that US natural gas stocks increased by 77 billion ft3 during the week ending 11th October. Following the release of this information natural gas traded at approximately US$ 3.64 /million BTU.
Working stocks and inventories
The Report also stated that total working natural gas stocks of 3.65 trillion ft3 were available at the end of the studied week, stating average than the 5 year average. At the moment natural gas inventories remain roughly in the middle of the five year range.
How stocks reacted to the report
- ExxonMobil Corp., US’s largest producer of natural gas up 0.5%.
- Cheasapeak Energy Corp., up 0.3%.
- EOG Resources Inc., up 0.3%.
- US Natural Gas Fund down 1.3%.
Adapted from press release by Claira Lloyd