Mubasher: Energy Information Administration (EIA) said on Thursday that the US natural gas inventories dropped by 77 billion cubic feet (Bcf) in the week ended 7 December to a total of 2,914 Bcf.

Stockpiles were 722 Bcf less than last year’s figure, while they were 723 Bcf below the five-year average of 3,637 Bcf, according to the EIA data.

Following the release of the data, Nymex natural gas futures jumped 3.53% to $4.45 per million British thermal units (MMBtu).