Friday, 9 August 2019

Natural Gas Extended Gains Following The Release Of A Report Showing

Natural gas trading range for the day is 146.1-154.7.

Natural gas extended gains following the release of a report showing a smaller-thanexpected storage build last week.

The U.S. Energy Information Administration said utilities added 55 billion cubic feet (bcf) of gas into storage during the week ended Aug. 2.

U.S. dry natural gas production will rise to an all-time high of 91.03 billion cubic feet per day (bcfd) in 2019, breaking last year's record of 83.39 bcfd.

EIA also projected U.S. gas consumption would rise to 84.65 bcfd in 2019, beating the record-high of 82.07 bcfd a year ago.

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