Mubasher: Energy Information Administration (EIA) said on Thursday that the US natural gas inventories dropped by 237 billion cubic feet (Bcf) in the week ended 1 February, to a total of 1,960 Bcf.

Stockpiles were 135 Bcf less than last year’s figure, while they were 415 Bcf below the five-year average of 2,375 Bcf, according to the EIA data.

Following the release of the data, Nymex natural gas futures fell 1.65% to $2.62 per million British thermal units (MMBtu).