US natural gas stocks rise 13 bcf in week ended Aug 30, says EIA
This story was originally published at 14:23 IST on 6 September 2024
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MUMBAI – Natural gas stocks in the US rose 13 bcf in the week ended Aug 30, according to data from the US Energy Information Administration. The gas inventory was 10.7% 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 3.35 trln cu ft as of Aug 30, 6.6% higher than 3.14 trln cu ft a year ago. The stocks were 208 bcf higher than the corresponding period last year and 323 bcf above the five-year average of 3.02 trln cu ft, according to the report.
The east, midwest, and mountain regions of the US saw a rise in stocks, while the south-central region, which includes the salt region, witnessed a fall in inventory, according to the release. At 1306 IST, the most-active October contract of natural gas on the New York Mercantile Exchange was $2.27 per mBtu, up 0.4% from the previous close. End
Reported by Anjali Lavania
Edited by Avishek Dutta
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