US: EIA Natural Gas Storage rises to 118 Bcf vs. 105 Bcf expected

The weekly report published by the US Energy Information Administration (EIA) showed that the working gas in storage was 3,288 billion cubic feet (Bcf) as of Friday, October 1, representing a net increase of 118 Bcf from the previous week.

"Stocks were 532 Bcf less than last year at this time and 176 Bcf below the five-year average of 3,464 Bcf," the publication further read. 

Market reaction

This print came in higher than the market expectation for storage build 105 Bcf and caused natural gas prices to edge lower. As of writing, US natural gas futures were down more than 3% on a daily basis.