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U.S. natural gas storage down 123 bcf

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Published: Dec. 23, 2004 at 12:35 PM
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WASHINGTON, Dec. 23 (UPI) -- Natural gas storage levels in the United States fell by 123 billion cubic feet last week as winter cold swept over much of the nation.

The Energy Information Administration said Thursday the amount of working gas in storage last Friday was 3.027 trillion cubic, about 328 bcf above last year's average and higher than the 5-year average as well.

Futures prices declined slightly in response, slipping to around $6.67 per million BTUs near the end of the shortened trading day on the New York Mercantile Exchange.

Extended weather forecasts called for cold Christmas weather followed by normal temperatures in the Midwest along with below-normal levels in the South.

© 2004 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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