U.S. Natural Gas Storage Build Lands Below Estimate
Dow Jones
Jul 30
1125 ET - U.S. natural gas futures turn higher as inventories increased by less than expected last week, leaving the storage surplus over the five-year average little changed. Natural gas in underground storage increased by 28 billion cubic feet to 3,084 Bcf, the EIA reports, putting stocks 185 Bcf above the 2021-2025 average and 32 Bcf below their year-earlier level. The storage injection was slightly larger than the 26 Bcf average, but less than the 38 Bcf estimate in a WSJ survey of analysts. Nymex natural gas is up 1% at $2.750/mmBtu.
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