Thursday, June 28, 2007

Nymex Gas Plunges After Report of Larger-Than-Expected U.S. Inventory Gain

(Bloomberg) -- Natural gas in New York plunged after
a weekly government stockpile report showed inventories rose more
than normal for this time of year, exceeding analyst
expectations.

Gas in storage rose 99 billion cubic feet for the week ended
June 22, the Energy Department said today. Inventories were
expected to rise by 83 billion cubic feet last week, according to
the median of 23 responses in a Bloomberg survey of analysts. The
average increase over the past five years for the week is 92
billion, according to the department.


Read more at Bloomberg Energy News

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