Natural Gas Storage Increases by 18 Bcf, Reaching 3270 Bcf as of August 2, 2024
According to estimates released by the U.S. Energy Information Administration (EIA), the nation's working gas in storage reached 3270 billion cubic feet (Bcf) as of Friday, August 2, 2024. This marks a net increase of 18 Bcf compared to the previous week, when storage levels stood at 3249 Bcf.
The increase in storage levels comes amidst concerns about supply disruptions and price volatility in the natural gas market. The latest storage data provides some reassurance that the nation's supply is adequate to meet current demand.
The EIA also reported that natural gas production in the United States has increased in recent weeks, contributing to the growth in storage levels. However, the agency cautioned that the market remains vulnerable to supply disruptions and other factors that could impact prices.
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