Natural Gas Supplies in US Fell Last Week

Natural-gas futures showed little reaction Thursday to data from the U.S. Energy Information Administration showing that supplies of natural gas fell by 87 billion cubic feet for the week ended Jan. 27. That was generally in line with the decline of 83 billion expected by analyst polled by S&P Global Platts.

Total stocks now stand at 2.711 trillion cubic feet, down 266 billion cubic feet from a year ago, but 59 billion cubic feet above the five-year average, the government said. March natural gas NGH17, +0.16% fell 3.7 cents, or 1.2%, from Wednesday’s settlement to $3.131 per million British thermal units. It traded at $3.129 before the data.

via MarketWatch

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza