Natural Gas Supplies in U.S. Probably Rose More Than Average

Bloomberg reported that U.S. natural-gas supplies probably rose more than average last week after mild weather limited demand for the heating fuel.

As quoted in the market news:

Temperatures were in a normal range in the U.S. Northeast last week and were above normal in the Midwest, according to Commodity Weather Group LLC in Bethesda, Maryland. The low in New York on Oct. 5 was 53 degrees Fahrenheit (12 Celsius), 1 degree below normal, according to AccuWeather Inc. in State College, Pennsylvania.

“The weather was pretty warm last week,” said Eric Bickel, an analyst at Summit Energy Services Inc. in Louisville, Kentucky, a subsidiary of Schneider Electric SA. “The supply side of the equation continues to provide upside to the storage number.”

Click here to read the full Bloomberg report