XOM, CHK, EOG, UNG, OIH
The US Energy Information Administration (EIA) Thursday reported the US Nat Gas stocks rose by a total of 20-B cubic feet, lower than the 24-B cubic feet that analysts were expecting.
Nat Gas futures prices had risen about 0.4% in advance of the EIA's report, but are declining now even though the build was smaller than expected.
The EIA reported that US working stocks of Nat Gas totaled 3.26-T cubic feet, about 363-B cubic feet higher than the 5 yr average of 2.9-Tcubic feet. Working Nat Gas in storage totaled 2.82-T cubic feet for the same period a year ago.
US Nat Gas inventories are about 16% higher than they were a year ago and nearly 13% higher than the 5 yr average. Both figures are lower than they were a week ago.
Nat Gas futures prices are about 43% higher than they were at their low point of 1.90 per thousand cubic feet in April of this year. Working gas in storage remains above the high end of the five-year average, but the gap is narrowing. That could offer a little boost to Nat Gas prices going forward.
Exxon Mobil Corp. (NYSE:XOM), the country's largest producer of natural gas, is up about 0.5% at $88.43 in a 52-week range of $67.93 to $88.67.
Chesapeake Energy Corp. (NYSE:CHK) is up about 0.3% at $19.02 in a 52-week range of $13.32 to $33.87.
EOG Resources Inc. (NYSE:EOG) is up about 0.4% at $110.30 in a 52-week range of $66.81 to $119.97.
The US Natural Gas Fund (NYSEMKT:UNG) is down about 0.6% at $18.74 in a 52-week range of $14.25 to $41.60.
The Market Vectors Oil Services ETF (NYSEMKT:OIH) is up about 1% at $40.97 in a 52-wk range of $32.54 to $45.14. The 1st fund tracks spot prices; the second includes major drillers and services companies.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.