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Rich Asplund

Smaller-Than-Expected Build in EIA Inventories Lifts Nat-Gas Prices

EIA United States BNEF Electricity Natural Gas Vaisala

August Nymex natural gas (NGQ25) on Thursday closed up sharply by +0.123 (+3.83%).

Aug nat-gas prices on Thursday settled sharply higher due to a smaller-than-expected build in weekly inventories. The EIA reported that nat-gas inventories rose by +53 bcf in the week ended July 4, below expectations of +61 bcf. Forecasts for hotter temperatures in the West also gave nat-gas prices a boost after forecaster Vaisala said above-normal temperatures are expected to persist in the West July 20-24.

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