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US natural gas storage rises; futures climb

US natural gas storage rises; futures climb

Mubasher: The US natural gas storage grew by 49 billion cubic feet (Bcf) in the week ended 9 August, recording a total of 2,738 Bcf, according to the Energy Information Administration’s (EIA) weekly report.

Stockpiles were 357 Bcf higher than past year’s figure, and they were 111 Bcf below the five-year average of 2,849 Bcf.

Following the release of the data, Nymex natural gas futures climbed by 1.40% to $2.17 per million British thermal units (MMBtu).