US natural gas storage falls as prices rise

US natural gas storage falls as prices rise

Mubasher: Energy Information Administration (EIA) reported on Thursday that the US natural gas inventories fell by 204 billion cubic feet (Bcf) in the week ended 8 March, totalling 1,186 Bcf.

Stockpiles were 359 Bcf less than past year’s figure, while they were 569 Bcf below the five-year average of 1,755 Bcf, according to the EIA data.

Following the release of the data, Nymex natural gas futures rose 0.82% to $2.84 per million British thermal units (MMBtu).