Nat gas storage builds well above expectations, futures prices sink

Working gas in storage was 1,734 Bcf as of Friday, April 26, according to EIA estimates. This represents a net change of +44 Bcf;well above estimates of ~+32 Bcf. As a result, U.S. nat gas futures on NYMEX sank more than 5% Thursday.

[table] [attr style=”width: 25%”]`[attr style=”width: 25%”]April 26`[attr style=”width: 25%”]April 19`[attr style=”width: 25%”]Change
East`704`686`+18
West`339`334`+5
Producing`734`714`+20
Total`1,777`1,734`+43
[/table]

Source: EIA