EIA Reports 64-Bcf Injection in Natural Gas Storage
Dow Jones
Yesterday
1144 ET - The EIA says that 64 billion cubic feet of natural gas were added to U.S. reserves for the week ended Sept. 25. This brings net storage to 3.42 trillion cubic feet, which is nearly 4% lower than this time last year, according to the EIA. The result is spot-on with the average estimate from analysts surveyed by The Wall Street Journal this week. Prior to the report, analyst say they were looking for a surprise in the report to cause a big move in natural gas futures in either direction. Instead, natural gas has gradually floated lower, with the most-active contract down 1% to $2.996 per mmBtu.
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