Natural gas stockpiles are about 82.6 percent above their levels of a year ago.

Natural gas price falls following EIA report

Eagle Ford

HOUSTON, April 24, 2015 – The US Energy Information Administration (EIA), has reported that US natural gas stocks increased by 2.55 bcm (90 bcf) for the week ending April 17, 2015. Analysts expected a storage increase of around 2.44 bcm-2.55 bcm (86 bcf-90 bcf), with the five-year average injection for the week at 1.42 bcm (50 bcf).

Natural gas futures for May delivery were down in advance of the EIA’s report, trading at around $2.55 per million British thermal units (Btu), falling further to $2.52 subsequent to its publication.

The 52-week low for natural gas futures is $2.48, close to 60 percent lower than the price per million Btu last year of $4.20. Natural gas stockpiles are about 82.6 percent higher than levels of April 2014 and around 5.8 percent lower than the five-year average.

The EIA reported that US natural gas working stocks summed 46.2 bcm (1.63 tcf), some 2.86 bcm (101 bcf) lower than the five-year average.