Natural gas prices jumped in trading today after the Energy Information Administration reported a larger-than-expected 64 billion cubic feet (bcf) decline in supplies to 3,773 bcf.
The relatively mild summer and weak industrial demand this year has left ample supplies of the commodity used to heat a majority of homes in the US, as stocks are still 472 bcf higher than last year at this time and 513 bcf above the 5-year average.
Consequently, prices remain low compared to much of the decade.
0 comments:
Post a Comment