U.S. natural gas inventories rose 2 billion cubic feet in the week ended Nov. 20, according to the Energy Information Administration (“EIA”) weekly report.
This is a another significant drop in the weekly deliveries which were 20 Bcf the previous reporting week and we could see draw downs on actual inventories.
At 3,835 billion cubic feet, supply inventory was 404 Bcf higher than last year at this time and 442 Bcf above the five-year average. Natural gas futures remained higher after the data, with the December contract up 5.7% at $5.026 per million British thermal units.
