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Natural gas gains 3.9 cents

Posted on: August 18, 2017

NYMEX natural gas gained 3.9 cents on Thursday to settle at $2.929/MMBtu. The EIA report released yesterday showed a build of 53-Bcf, bullish against the expected 49-Bcf in the market. Prices were propped up with the revision commentary released with the report in which the EIA noted that working gas storage figures have been overstated for the last 6 weeks by 10-Bcf, and inventory figures were revised downwards over this period.

Working gas storage totals 3,082-Bcf as if August 11, 254-Bcf less than this time last year and 55-Bcf above the 5 year average.


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