Abundant US Natural Gas Storage Pressures Prices Downward
Natural gas prices fell as concerns over rising US storage levels persisted. The EIA is expected to report a weekly inventory increase of 83 bcf, above the five-year average, with existing stockpiles already 7.1% above the seasonal average. Despite below-normal temperatures boosting demand, the surplus of supply continues to weigh on prices.
Topics: EIA inventories energy markets natural gas prices US storage