Natural Gas Inventories Up
The Energy Department’s Energy Information Administration said in its weekly report that natural gas inventories held in underground storage in the lower 48 states rose by 85 billion cubic feet to more than 1.61 trillion cubic feet for the week ending May 16.
The inventory level was slightly below the five-year average of nearly 1.62 trillion cubic feet, and well below last year’s storage level of about 1.92 trillion cubic feet, according to the government data.
Natural gas for June delivery rose 5.7 cents to $11.697 per 1,000 cubic feet on the New York Mercantile Exchange.
