27 April 2024
NYMEX November gas contracts record sharp drop as US inventories hit record high
Publication date: 08 October 2010
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NYMEX November gas contracts fell nearly ¢visual_editor5, or 6.4%, to trade at $3.61/MMBtu with higher than expected inventory levels, according to the Energy Information Administration (EIA) in its lastest weekly report. Inventories increased by 85 Bcf in the week ending October 6, higher than the expected 78 Bcf forecast. Inventories last week stood at 3.499 Tcf, 6.7% above the five-year average, the EIA said.