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  • futureripplemovers futureripplemovers Feb 13, 2014 10:33 AM Flag

    Weekly Natural Gas Storage Report for week ending February 7, 2014

    Weekly Natural Gas Storage Report for week ending February 7, 2014

    Released: February 13, 2014 at 10:30 a.m. | Next Release: February 20, 2014

    Working gas in storage was 1,686 Bcf as of Friday, February 7, 2014, according to EIA estimates. This represents a net decline of 237 Bcf from the previous week. Stocks were 863 Bcf less than last year at this time and 631 Bcf below the 5-year average of 2,317 Bcf. In the East Region, stocks were 315 Bcf below the 5-year average following net withdrawals of 106 Bcf. Stocks in the Producing Region were 232 Bcf below the 5-year average of 845 Bcf after a net withdrawal of 89 Bcf. Stocks in the West Region were 84 Bcf below the 5-year average after a net drawdown of 42 Bcf. At 1,686 Bcf, total working gas is below the 5-year historical range.

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    • Oil dips; natural gas soars on supply report

      Posted on February 13, 2014 at 4:04 pm by Associated Press

      The price of oil barely budged Thursday. But natural gas futures soared and U.S. drivers again saw higher numbers at the gas pump.

      Benchmark U.S. crude for March delivery slipped 2 cents to $100.37 a barrel on the New York Mercantile Exchange. U.S. economic indicators were mostly downbeat on Thursday, suggesting weak demand. A report from the International Energy Agency gave oil some support. The agency raised slightly its 2014 forecast for global demand to 92.6 million barrels a day, 125,000 barrels a day above its previous expectations from a month ago.

      Natural gas futures jumped 40 cents, or 8 percent, to $5.22 per 1,000 cubic feet. The Energy Department said supplies fell by 237 billion cubic feet last week, more than the 230 billion cubic feet decline predicted by analysts.

      Meanwhile, U.S. drivers are paying 6 cents more per gallon on average than a week ago. The nationwide average climbed 1 penny Thursday to $3.33 a gallon. In Houston Thursday, the average was $3.125 a gallon, up from $3.102 Wednesday, according to AAA.

      Brent crude, which is used to set prices for international varieties of crude, fell 6 cents to $108.73 on the ICE Futures exchange in London.

      In other energy futures trading in New York:
      — Wholesale gasoline rose 1 cent to $2.78 per gallon.
      — Heating oil added 2 cents to $3.03 a gallon.


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