Natural gas prices initially slipped following a report from the Department of Energy that showed a larger than expected build in inventories. Prices
Natural gas prices initially slipped following a report from the Department of Energy that showed a larger than expected build in inventories. Prices slid below the 10-day moving average at 2.10 and are poised to test an upward sloping trend line at 2.02.
Working gas in storage was 2,557 Bcf as of Friday, April 22, 2016, according to EIA estimates. This represents a net increase of 73 Bcf from the previous week. Analysts had expected a build of 70 Bcf. Stocks were 870 Bcf higher than last year at this time and 832 Bcf above the five-year average of 1,725 Bcf. At 2,557 Bcf, total working gas is above the five-year historical range.
David Becker focuses his attention on various consulting and portfolio management activities at Fortuity LLC, where he currently provides oversight for a multimillion-dollar portfolio consisting of commodities, debt, equities, real estate, and more.
