5/5/2016, 4:46 PM (Source: TeleTrader)
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Natural gas storage above five-year average

Working gas supplies were 2,625 billion cubic feet (Bcf) for the week ending April 29, according to the United States Energy Information Administration’s (EIA) report published on Thursday.

Gas storage increased 68 Bcf compared to the previous week, and is 861 Bcf higher compared the same period last year. This amount of working gas is above five-year historical range.

EIA also reported that two-thirds of U.S. gas production is derived from hydraulically fractured wells.

The gas was 4.74% up at 4:24 p.m. CET.

Brent was 2.52% up at $46.04 per barrel at 4:31 p.m. CET, after a daily high of $46.77 per barrel Production decreased due to the fires in Canada, as well as a result of news the newest escalation in the dispute over oil shipments from Libya may drive down output.

WTI rose 2.79% at $45.33 per barrel at 4:33 p.m. CET.


Image: EPA / Bodo Marks

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