U.S. Natural Gas Inventories Increase by 77 Bcf for Week Ended October 16
The U.S. Energy Information Administration (EIA) reported that natural gas inventories rose by 77 billion cubic feet (Bcf) for the week ending October 16. This brings total working gas levels to 3,644 Bcf, compared to 3,567 Bcf in the previous week. The inventory build of 77 Bcf was slightly lower than the market consensus expectation of 80 Bcf. Following the report, natural gas futures saw a marginal increase of 0.38%, trading at approximately $2.80 per MMBtu.