Prices mostly in check
The Energy Information Administration reported on Thursday that natural gas supplies tumbled 266 billion cubit feet (bcf) to 2.85 trillion cubit feet in the last week.
The culprit: very cold weather in much of the country. In fact, natural gas supplies are now just 103 bcf higher than last year at this time and 121 bcf above the 5-year average of 2,731 bcf. That’s down from about 500 bcf just one month ago.
Although natural gas prices have crept higher recently in response to heavy usage, the threat that abundant supplies still in the ground might come to market appears to have kept prices from jumping much higher.
0 comments:
Post a Comment