US natural gas stocks rise 35 bcf in week ended Aug 23, says EIA
This story was originally published at 16:41 IST on 30 August 2024
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MUMBAI – Natural gas stocks in the US rose 35 bcf in the week ended Aug 23, according to data from the US Energy Information Administration. The gas inventory was 12.1% 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 3.33 trln cu ft as of Aug 23, 7.3% higher than 3.11 trln cu ft a year ago. The stocks were 228 bcf higher than this time last year and 361 bcf above the five-year average of 2.97 trln cu ft, according to the report.
The east, midwest, and mountain regions of the US saw a rise in stocks. The south-central region, which includes the salt region, witnessed a fall in inventory, according to the release. At 1525 IST, the most-active October contract of natural gas on the New York Mercantile Exchange was $2.13 per mBtu, down 0.2% from the previous close. End
Reported by Anjali Lavania
Edited by Ashish Shirke
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