The five-year average inventory gain for the week ended April 17th was 46 billion cubic feet, last year's injections were 45 Bcf. The 5-year average for the week ended Apr. 24th (reported Apr. 30) is a build of 55 Bcf where next weeks report could be 95.
From Investing.com:
Natural gas futures decline after U.S. storage data
U.S. natural gas prices - on Wednesday, after data showed that U.S. gas inventories rose more than expected last week, sparking fears over a drop in demand for fuel.May futures $2.537 down 6.9 cents:
On the New York Mercantile Exchange, natural gas for delivery in May hit $2.548 during U.S. morning hours, down 4.9 cents, or 1.86%.
A day earlier, natural gas prices jumped 3.1 cents, or 1.20%, to close at $2.606 amid speculation utilities and power generators will switch from coal to natural gas in wake of the recent slide in prices.
Futures were likely to find support at $2.491 per million British thermal units, the low from April 15, and resistance at $2.625, the high from April 15.
The U.S. Energy Information Administration said that natural gas inventories rose by 90 billion cubic feet in the week ending April 17, the most on record and exceeding expectations for an increase of 88 billion cubic feet....MORE
