EIA reported today that U.S. natural gas storage fell by 147 Bcf for the week ending December 9th. Analysts expected storage to fall in the 125-135 Bcf range. The immediate market reaction was a trade price increase of 2%, but the market quickly fell to yesterday’s closing price.
EIA Natural Gas Storage Data:
- Total (12/09/16): 3,806 Bcf
- Total (12/02/16): 3,953 Bcf
- Net change: -147 Bcf
- Implied flow: -147 Bcf
- Year ago stocks: 3,856 Bcf
- % change from year ago: -1.3 %
- 5-year avg stocks: 3,620 Bcf
- % change from 5-year avg: 5.1 %
