EIA: US natural gas storage reaches record high

Natural gas in underground storage in the Lower 48 was 4.017 tcf as of Nov. 4, an increase of 54 bcf from the previous week, the US Energy Information Administration reported.

Natural gas in underground storage in the Lower 48 was 4.017 tcf as of Nov. 4, an increase of 54 bcf from the previous week, the US Energy Information Administration reported.

The latest estimate of stored gas topped a previous high of 4.009 tcf set for the week ended Nov. 20, 2015, EIA statistics showed.

The Gas Storage Report showed the latest gas storage levels were 47 bcf higher than last year at this time and 189 bcf above the 5-year average of 3.828 tcf.

US natural gas futures prices for December delivery fell to $2.63/MMbtu on the New York Mercantile Exchange following the release of the report.

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