US November Natural Gas Futures Jump on Unexpectedly Low Refill

摘要

US November natural gas futures saw a slight rise Friday, extending a four-session rally that added 6.3%, or 21.5(2, to the contract. Biggest gains followed an unexpectedly small storage build that pushed the contract 3.7%, or 12.90, higher into the low $3.60s on Thursday. The US Energy Information Administration reported a 72 billion cubic foot injection for the week ended Oct. 5, bringing working gas inventories to 3,725 Bcf The build was lower than the injection analysts expected closer to 80 Bcf and caused the year-on-year surplus to fall 36 Bcf to 236 Bcf, or 6.8%, while the surplus to the five-year average fell 12 Bcf to 269 Bcf, or 7.8%.