• Tony Zelinski

EIA Natural Gas Storage Report 11-10-16

Leading up to todays report, Natural gas halted its downward slide Wednesday as market participants awaited new data on supplies and more clarity on winter weather forecasts.


Natural gas prices reversed losses early in the day to settle up 5.7 cents, or 2.16%, at $2.69 a million British thermal units on the New York Mercantile Exchange.


Natural gas has been battered for weeks, as persistently warm weather has stoked fears that a warm winter will limit heating demand even as stockpiles are elevated. Prices have plunged more than 20% since a 52-week high in mid-October, and money managers have been liquidating their bullish positions on natural gas.

An update to weather forecasts Wednesday afternoon also showed some colder weather could appear in a few weeks.

See a recap of previous weeks EIA storage reports here.

EIA Natural Gas Storage Report 11-10-16

Working gas in storage was 4,017 Bcf as of Friday, November 4, 2016, according to EIA estimates. This represents a net increase of 54 Bcf from the previous week. Stocks were 47 Bcf higher than last year at this time and 189 Bcf above the five-year average of 3,828 Bcf. At 4,017 Bcf, total working gas is above the five-year historical range.


Analysts expected a build of 55 bcf. As of 10:32 ET, natural gas futures were trading lower by 3.3% to $2.601.


You can review a recap of previous weeks EIA Natural Gas inventory Reports.

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