Commodities Buzz: US natural gas inventories up 33 BCF

The Energy Information Administration (EIA) has stated in a latest weekly update that the US Natural Gas that storage levels have increased significantly. According to the EIA, natural gas inventories rose by 33 billion cubic feet or BCF over the past week. Working gas in storage across the United States stood at 3,117 billion cubic feet in the week ending July 31. The actual increase outpaced the previous week?s figure of 28 billion cubic feet. On an annual level, the figure declined by 12 billion cubic feet. Additionally, the stockpiles increased by 195 billion cubic feet above the five-year average of 2,922 billion cubic feet. The total working gas was within the five-year historical range.

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