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US natural gas inventories rise as prices climb

US natural gas inventories rise as prices climb

Mubasher: The US natural gas storage rose by 81 billion cubic feet (Bcf) in the week ended 5 July, totalling 2,471 Bcf, Energy Information Administration (EIA) stated in its weekly report.

Stockpiles were 275 Bcf higher than past year’s figure, and they were 142 Bcf below the five-year average of 2,613 Bcf.

Following the release of the data, Nymex natural gas futures climbed by 1.10% to $2.47 per million British thermal units (MMBtu).