US gas inventories top 3.6 Tcf after increase of 69 Bcf

摘要

Knoxville, Tennessee-US natural gas storage inventories continue to set record highs, with the Energy Information Administration on October 8 reporting a 69 Bcf injection for the week ended October 2 which lifted stocks to 3.658 Tcf. The build was above consensus expectations ranging from 59 to 63 Bcf but failed to keep the New York Mercantile Exchange November gas futures contract from rallying. NYMEX November gas was up 5.9 cents at $4.963/MMBtu, as analysts said expected near-term cold weather and strong commodity and equity markets overshadowed the stock build.