Natural Gas Prices Stay Lower After EIA Storage Data - The Wall Street Journal
Natural Gas Prices Stay Lower After EIA Storage Data - WSJ
1047 ET – Bearish sentiment in natural gas markets remains in play, with the front-month contract recently down 4.8% at $2.541/mmBtu despite an EIA storage report that came in bullish compared to both forecasts and averages. The US government agency says gas inventories rose last week by just 16 billion cubic feet versus forecasts in a WSJ survey for 20 bcf and versus the average rise of 31 bcf. Total inventories are now 2.987 trillion cubic feet as a long-running surplus narrows slightly to 13.1% above normal. The selling of the commodity suggests investors are worried that demand-boosting summer heat has just about peaked without any significant dismantling of the inventory overhang, and the low-demand fall season will soon be underway. ( dan.molinski@wsj.com)
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Continue reading your article with
a WSJ subscription
Subscribe Now
Already a subscriber? Sign In
What to Read Next
- TurboTax: Save up to $15 with TurboTax coupon May 2023
- The Motley Fool: Epic Bundle - 3x Expert Stock Recommendations
- H&R Block Tax: 15% OFF DIY Online Tax Filing Services | H&R Block Coupon
- Top Resume: 10% TopResume Discount Code for expert resume-writing services
- eBay: +30% Off today with this eBay coupon*
- Groupon: Groupon Promo Code - 30% Off + Extra 10% Off Goods