Natural gas futures fell below $3 per million British thermal units for the first time in more than seven years after a government report showed rising supplies of the industrial and power plant fuel. U.S. inventories of the fuel rose 52 billion cubic feet to 3.204 trillion in the week ended Aug. 14, the Energy Department said today in a weekly report. Supplies were 19 percent higher than the five year average. "We have such a storage overhang staring you in the face," said Cameron Horwitz, an analyst at SunTrust Robinson Humphrey Inc. in Houston. "There won’t be any sustainable upward momentum until you work through this storage problem".....Complete Story
No comments:
Post a Comment