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Informist, Friday, Aug 9, 2024

 

MUMBAI – Natural gas stocks in the US rose 21 bcf in the week ended Aug 2, according to data from the US Energy Information Administration. The gas inventory was 14.9% higher than the five-year average for this time of the year, the agency said in its weekly report.

 

The department pegged total gas in underground storage at 3.27 trln cu ft as of Aug 2, 8.2% higher than 3.02 trln cu ft a year ago. The stocks were 248 bcf higher than this time last year and 424 bcf above the five-year average of 2.85 trln cu ft, according to the report. 

 

The east, midwest, mountain, and Pacific regions of the US saw a rise in stocks, while the non-salt region’s inventory remained unchanged. The south-central region, which includes the salt region, witnessed a fall in inventory, according to the release. At 1140 IST, the most-active September contract of natural gas on the New York Mercantile Exchange was at $2.16 per mBtu, up 0.1% from the previous close. End

 

US$1 = 83.88 rupees

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Sandeep Sinha

Edited by Namrata Rao

 

 

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