Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your experience. Save up to 40% More details

Natural gas prices extend declines on bearish U.S. inventory figures

CommoditiesAug 30, 2013 12:40PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items - Natural gas prices extended Thursday's losses into Friday after official U.S. data revealed that the country's stockpiles rose more than expected last week.

Weather forecasts for milder temperatures pressured prices lower as well.

On the New York Mercantile Exchange, natural gas futures for delivery in October traded at USD3.587 per million British thermal units during U.S. trading, down 0.87%. The October contract settled up 1.01% at USD3.618 per million British thermal units on Thursday.

The commodity hit a session low of USD3.586 and a high of USD3.652.

Updated weather forecasting models called for normal to below-normal temperatures to hover over much of the eastern U.S. through the middle of September, which sent prices falling

Demand for natural gas tends to wane at the country's thermal power plants as temperatures fall, as homes and businesses throttle back on their air conditioners.

Supply data released Thursday dampened prices as well.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. in the week ending Aug. 23 rose by 67 billion cubic feet, above market expectations for an increase of 63 billion cubic feet.

Inventories increased by 64 billion cubic feet in the same week a year earlier, while the five-year average change for the week is a build of 66 billion cubic feet.

Total U.S. natural gas storage stood at 3.130 trillion cubic feet as of last week. Stocks were 235 billion cubic feet less than last year at this time and 45 billion cubic feet above the five-year average of 3.085 trillion cubic feet for this time of year.

The report showed that in the East Region, stocks were 107 billion cubic feet below the five-year average, following net injections of 49 billion cubic feet.

Stocks in the Producing Region were 95 billion cubic feet above the five-year average of 978 billion cubic feet after a net injection of 16 billion cubic feet.

Elsewhere on the NYMEX, light sweet crude oil futures for delivery in October were down 1.08% and trading at USD107.62 a barrel, while heating oil for October delivery were down 1.11% and trading at USD3.1530 per gallon.

Natural gas prices extend declines on bearish U.S. inventory figures

Related Articles

Gold Down, Omicron Fears Start to Fall
Gold Down, Omicron Fears Start to Fall By - Dec 06, 2021

By Gina Lee – Gold was down on Tuesday morning in Asia, with a rebounding dollar and U.S. Treasury yields boxing the yellow metal in a tight $4 range. Gold futures...

Oil Up as Omicron and Fuel Demand Fears Ease
Oil Up as Omicron and Fuel Demand Fears Ease By - Dec 06, 2021 2

By Gina Lee – Oil was up Tuesday morning in Asia, after rebounding almost 5% the day before. Concerns about the omicron COVID-19 variant’s impact on fuel demand...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email