XOM, CHK, EOG, UNG, OIH

The US Energy Information Administration (EIA) today reported the US Nat Gas stocks rose by a total of 77-B cubic feet, somewhat higher than the 71-B cubic feet that analysts were expecting.

Nat Gas futures prices were slightly higher in advance of the EIA’s report at around 3.42 per thousand cubic feet, and fell slightly following the EIA report Thursday.

The EIA reported that US working stocks of Nat Gas totaled 3.65-T cubic feet, + about 272-B cubic feet than the 5-yr average of 3.37-T cubic feet. Working Nat Gas in storage totaled 3.38-T cubic feet for the same period a year ago.

US Nat Gas inventories are about 8% higher than they were a year ago and about 8.3% higher than the 5-yr average.

Nat Gas futures prices are about 80% higher than they were at their low point of 1.90 per thousand cubic feet in April of this year. Working Nat Gas in storage remains above the high end of the 5-yr average.

Here is how stocks of the largest US Nat Gas producers are doing Thursday:

Exxon Mobil Corp. (NYSE:XOM), the USA’s largest producer of Nat Gas, is up about 0.8% at 92.39 in a 52-wk range of 72.63 to 92.57.

Chesapeake Energy Corp. (NYSE:CHK) is up about 1.7% at 19.33 in a 52-wk range of 13.32 to 29.87.

EOG Resources Inc. (NYSE:EOG) is up about 0.9% at 112.05 in a 52-wk range of 74.73 to 119.97.

US Natural Gas Fund (NYSEMKT: UNG) is flat at 22.00 in a 52-wk range of 14.25 to 36.60.

Market Vectors Oil Services ETF (NYSEMKT:OIH) is + about 1.1% at 39.61 in a 52-wk range of 32.54 to 45.14.

 

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.

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