Gas supply, higher than expected

The US EIA has reported that US natural gas stocks increased by 87 billion ft³ over the week ending 18^th October. Analysts expected a build up of 78 billion ft³. Before the report was released natural gas was trading at US$ 3.55 /million BTU and increased to US$ 3.59.

Stocks, storage and prices
A working stock of 3.74 trillion ft³ of natural gas was indicated in the report. Working gas storage was at 3.83 trillion ft³ at the same time a year ago. Natural gas inventories stand in the middle of the five year range.

Stocks from the largest US natural gas producers reacted to the report as follows;

• ExxonMobil Corp. up 0.8%.
• Chesapeake Energy Corp. up 1.8%.
• EOG Resources Inc. up 0.7%.

Adapted from press release by Claira Lloyd

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/25102013/us_gas_supply_increase/