Market Overview

Natural Gas Supplies Rise; Gas Stocks See Slight Drop

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According to EIA estimates, working gas in storage rose to 2,389 Bcf as of Friday, August 1.

This represents a net increase of 82 Bcf from the previous week. Stocks were 538 Bcf less than last year at this time and 608 Bcf below the five-year average of 2,997 Bcf.

Shares in some of the larger natural gas stocks traded lower following the report.

Shares of U.S. Natural Gas Fund (NYSE: UNG) are down about one percent.

Apache (NYSE: APA) shares were last down 1.6 percent, while Chesapeake Energy (NYSE: CHK) was down 1.11 percent.

Posted-In: News Commodities Markets

 

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