U.S. Natural Gas Inventories Increase by 77 Bcf for Week Ending October 30
The U.S. Energy Information Administration (EIA) reported that natural gas inventories rose by 77 billion cubic feet (Bcf) for the week ending October 30. This brings total working gas in storage to 3,801 Bcf, up from 3,724 Bcf the previous week. The inventory build was lower than the market consensus of 81 Bcf. Following the report, natural gas futures saw a slight decline of 0.11%, trading at approximately $2.96/MMBtu. This data comes amid broader market volatility and bearish sentiment from hedge funds regarding U.S. natural gas positions.
Topics: commodity futures energy markets natural gas storage