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US natural gas storage climbs as futures drop

US natural gas storage climbs as futures drop

Mubasher: The US natural gas storage posted a build-up of 78 billion cubic feet (Bcf) in the week ended 6 September, hitting a total of 3,019 Bcf, the Energy Information Administration’s (EIA) weekly report.

Stockpiles were 393 Bcf higher than past year’s figure, and they were 77 Bcf below the five-year average of 3,096 Bcf.

Following the release of the data, Nymex natural gas futures fell by 0.63% to $2.54 per million British thermal units (MMBtu).