Analysts expect Energy Department to announce build in natural gas storage inventories
Associated Press
11/25/09 6:40 AM EST
NEW YORK — The Energy Department on Wednesday is expected to report a build of 3 billion to 7 billion cubic feet of natural gas storage inventories for the week ended Nov. 20, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.
The Energy Information Administration — the statistical agency of the Department of Energy — releases its weekly report at 12 p.m. EST. The report is being released early due the Thanksgiving holiday in the U.S.
A reading above or below estimates can influence market trading.
Last Thursday, the EIA said for the week ended Nov. 13 natural gas inventories held in underground storage in the lower 48 states grew by 20 billion cubic feet to a new record high of about 3.83 trillion cubic feet. Analysts had expected a boost between 19 billion and 23 billion cubic feet.
