NATGAS prices extend decline

NATGAS prices continue to move lower after an EIA report showed domestic natural gas stocks rose to 54 billion cubic feet last week, well above analysts’ estimates of 40bcf. Before the report was released investors were concerned that an unexpected blizzard earlier this week could’ve caused serious delays in the replenishment of natural gas inventories, but the data showed the gap between current inventory levels and the 5-year average narrowed 1 percentage point to 16.8%

NATGAS prices fell over 15% from an over thirteen-year high of $8.075 hit at the start of the week. Source: xStation5

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