Market Overview

Natural Gas Reacts To Weekly Inventories Data

Natural Gas Reacts To Weekly Inventories Data

Natural gas inventories for the week ended October 28grew to 3,963 billion cubic feet (BCF) from 3,909 bcf in the previous week, representing an increase of 54 bcf. The previous reading called for 73 bcf. Following this, the United States Natural Gas Fund, LP (NYSE: UNG) traded up.


  • Total gas inventories 54 bcf versus consensus estimate of 56 bcf.
  • South Central region’s inventory is 34 bcf.
  • Midwest region’s inventory is 15 bcf.
  • East region’s inventory is 1 bcf.
  • Mountain region’s inventory is 4 bcf.
  • No changes in Pacific region.

According to the statement, “Working gas in storage was 3,963 Bcf as of Friday, October 28, 2016, according to EIA estimates. This represents a net increase of 54 Bcf from the previous week. Stocks were 48 Bcf higher than last year at this time and 173 Bcf above the five-year average of 3,790 Bcf. At 3,963 Bcf, total working gas is above the five-year historical range.”

Following the better than expected inventory, UNG traded up 0.67 percent to $7.54.

Posted-In: News Sector ETFs Commodities Econ #s Markets Trading Ideas ETFs General Best of Benzinga


Related Articles (UNG + USO)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

10 Notable Stocks Trading Ex-Dividend Friday, November 4

Whole Foods' Q4 Earnings May Pique The Interest Of Turnaround Investors