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US natural gas storage edges up as futures soar

US natural gas storage edges up as futures soar

Mubasher: US natural gas storage edged up by 3 billion cubic feet (Bcf) in the week ended 8 November, to a total of 3,732 Bcf, the Energy Information Administration (EIA) said.

Stockpiles were 491 Bcf above past year’s figure, and they were 2 Bcf higher than the five-year average of 3,730 Bcf.

Following the release of the data, Nymex natural gas futures jumped by 2.35% to $2.66 per million British thermal units (MMBtu).