US natural gas storage posts weekly build as prices drop

US natural gas storage posts weekly build as prices drop

Mubasher: Energy Information Administration (EIA) reported on Thursday that the US natural gas inventories rose by 92 billion cubic feet (Bcf) in the week ended 12 April, totalling 1,247 Bcf.

Stockpiles were 57 Bcf less than past year’s figure, while they were 414 Bcf below the five-year average of 1,661 Bcf.

Following the release of the data, Nymex natural gas futures fell 0.95% to $2.49 per million British thermal units (MMBtu).