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Natural Gas Inventories Have Risen for 17 Consecutive Weeks

The EIA (U.S. Energy Information Administration) published the natural gas inventory report on July 30, 2015. The government data showed that natural gas inventories rose by 52 Bcf (billion cubic feet) to 2,880 Bcf for the week ending July 24, 2015. Likewise, natural gas stocks rose by 61 Bcf to 2,828 Bcf for the week ending July 17, 2015.

Market surveys estimated that the natural gas stockpile could rise by 55 Bcf for the week ending July 24, 2015. The rise in natural gas inventories led to the fall in natural gas prices. The current natural gas stocks are 25% more than the level of 2,294 Bcf last year. They’re also 3% more the five-year average of 2,795 Bcf. The natural gas stocks have risen for 17 consecutive weeks. Slowing demand and mild weather supported the rise in natural gas inventories.

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