Natural Gas Prices Plunge Further Amid Rise In U.S. Stockpiles ...Middle East

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Natural Gas Prices Plunge Further Amid Rise In U.S. Stockpiles
source : OILPRICE ( Middle East ) () 54
U.S. natural gas stockpiles gained 110 billion cubic feet for the week ended May 26, putting more downward pressure on prices, particularly as storage is now 557 billion cubic feet higher than at this time last year, and well above the five-year average. The increase in natural gas stockpiles was largely in line with analyst expectations, though slightly lower than the consensus estimate of 113 Bcf. Steady production and only modest demand continue to set natural gas prices up for further decline in the coming quarter, which will affect Q2 earnings…

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