Higher Inventories Might Bring Relief for Natural Gas Bulls
In the week ending June 29, natural gas inventories rose by 78 Bcf (billion cubic feet) to 2,152 Bcf—based on the EIA’s (U.S. Energy Information Administration) data announced on July 6. In the past five years, natural gas inventories have risen by an average of ~70 Bcf at this time of the year. On July 6, natural gas August futures rose 0.7%.