Gas, EIA: storage up more than expected (+35 BCF)

Gas EIA storage up more than expected 35 BCF

(Tiper Stock Exchange) – Weekly inventories of gas in the USA increased more than expected. According to the Energy Information Administration (EIA), a division of the US Department of Energy, gas inventories in the week ending August 11, 2023 increased by 35BCF (billion cubic feet).

The data is revealed higher than consensus (+34 BCF). The week before there had been an increase of 29 BCF.

The total inventories have therefore brought to 3.065 billion cubic feetresulting up 21.8% compared to a year ago (when they stood at 2,516) and up 10.8% on the last five-year average of 2,766 BCF.

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