{"id":13685,"date":"2023-05-25T12:16:48","date_gmt":"2023-05-25T16:16:48","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/commodities\/u-s-natural-gas-build-again-underwhelms-with-injection-below-100-bcf-eia\/"},"modified":"2023-05-25T12:16:49","modified_gmt":"2023-05-25T16:16:49","slug":"u-s-natural-gas-build-again-underwhelms-with-injection-below-100-bcf-eia","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13685","title":{"rendered":"U.S. natural gas build again underwhelms with injection below 100 bcf – EIA"},"content":{"rendered":"
\n

Investing.com — U.S. rose by 96 billion cubic feet, or bcf, last week, the Energy Information Administration, or EIA, said Thursday, announcing for a second straight time a weekly injection below 100 bcf that suggested the oversupplied market may be turning the corner on fundamentals.<\/p>\n

In the previous week to May 12, the EIA reported a 99-bcf build in natural gas inventories.<\/p>\n

Industry analysts tracked by Investing.com had forecast a 108 bcf for both that week and the latest week to May 19.<\/p>\n

With the latest stockpile increase, the EIA reported that total gas in underground caverns in the United States stood at 2.336 trillion cubic feet, or tcf \u2014 up 29.3% from the year-ago level of 1.807 tcf and 17% higher than the five-year average of 1.996 tcf.<\/p>\n

Notwithstanding the smaller-than-expected build, U.S. gas futures fell in Thursday\u2019s session as traders responded instead to signs that Canadian gas supplies \u2014 disrupted over the past week by wildfires \u2014 have been normalizing as firefighters took control of the blazes in Alberta.<\/p>\n

By 11:25 ET, the on the New York Mercantile Exchange\u2019s Henry Hub was at $2.49 per mmBtu, or million metric British thermal units \u2014 just below the key $2.50 psychological mark. It earlier hit a session low of $2.476.<\/p>\n

The benchmark gas contract hit a 11-week high of $2.707 on Monday, breaking out from the tight confines of mid-$2 pricing on the notion that the market may finally be turning the corner on fundamentals despite its oversupplied state.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com — U.S. rose by 96 billion cubic feet, or bcf, last week, the Energy Information Administration, or EIA, said Thursday, announcing for a second straight time a weekly injection below 100 bcf that suggested the oversupplied market may be turning the corner on fundamentals. In the previous week to May 12, the EIA reported […]<\/p>\n","protected":false},"author":1,"featured_media":13686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[242],"tags":[83],"class_list":["post-13685","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-commodities","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nU.S. natural gas build again underwhelms with injection below 100 bcf - EIA | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com -- U.S. rose by 96 billion cubic feet, or bcf, last week, the Energy Information Administration, or EIA, said Thursday, announcing for a\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=13685\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. natural gas build again underwhelms with injection below 100 bcf - 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