Tags: APFN | US | Natural | Gas | Storage

Natural Gas Stockpiles Decline Less Than Expected

Thursday, 28 Jan 2010 11:37 AM

Natural gas stockpile levels fell last week less than analysts expected, the government said Thursday.

The Energy Department's Energy Information Administration's weekly report showed that natural gas inventories held in underground storage in the lower 48 states dropped by 86 billion cubic feet to about 2.52 trillion cubic feet for the week ended Jan. 22.

Analysts forecast a draw of between 107 billion and 111 billion cubic feet, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

The inventory level was 3.6 percent above the five-year average of about 2.43 trillion cubic feet, and 5 percent above last year's storage level of about 2.4 trillion cubic feet, according to the government data.

Natural gas fell by 7.4 cents to $5.150 per 1,000 cubic feet on the New York Mercantile Exchange.

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Natural gas stockpile levels fell last week less than analysts expected, the government said Thursday.The Energy Department's Energy Information Administration's weekly report showed that natural gas inventories held in underground storage in the lower 48 states dropped by...
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