US Energy Information Administration (EIA) issued an official weekly report on US natural gas inventories today at 3:30 pm BST. Report was expected to show a 82 billion cubic feet increase in natural gas stockpiles, much lower than 97 bcf reported a week ago.
Actual report came in below expectations and has shown a 74 bcf build in US natural gas inventories. A positive market reaction can be spotted with NATGAS moving higher following the release.
NATGAS jumped following EIA report and is testing resistance zone at $3.45 per MMBTu. Source: xStation5
