Mubasher: Energy Information Administration (EIA) said on Thursday that the US natural gas inventories dropped by 59 billion cubic feet (Bcf) in the week ended 23 November to a total of 3,054 Bcf.

Stockpiles were 644 Bcf less than last year’s figure, while they were 720 Bcf below the five-year average of 3,774 Bcf, according to the EIA data.

Following the release of the data, Nymex natural gas futures fell 3.60% to $4.53 per million British thermal units (MMBtu).