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- US natural gas storage falls more than expected – ING
US natural gas storage falls more than expected – ING
US natural gas storage fell more than expected over the last week, ING's commodity experts Ewa Manthey and Warren Patterson note.
The release provides short-term support to the market
"Energy Information Administration (EIA) data shows that working storage fell by 62bcf, more than the 50bcf the market was expecting. Total storage is now 11.9% below the five-year average. The release provided some short-term support to the market. However, forecasts for warmer weather over parts of the US made it short-lived."
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