US Energy Information Administration (EIA) released a weekly report on US natural gas inventories today at 3:30 pm BST. Report was expected to show an inventory build of 90 billion cubic feet. Actual report showed an inventory build of 95 billion cubic feet, what was the second week of higher-than-expected inventory build. Inventory build was also above-average for the currency period of the year.
US natural gas prices (NATGAS) slumped over 2% following release of EIA report and reached a new daily low near 2.52 mark.
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Source: xStation5
Inventory build signaled by EIA was above 5-year average for the period but has not exceeded a 5-year high. Source: Bloomberg
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