US natural gas inventories fall more than expected

The US natural gas inventories decreased by 87 billion cubic feet during the week ended Dec. 15, against expectations of a drop of 82 billion cubic feet.

Total natural gas reserves amounted to 3.577 trillion cubic feet, an increase of 7.2%, or about 240 billion cubic feet, compared to the same period last year, showed the data from the US Energy Information Administration.

The current inventories are higher by 8.5%, or about 280 billion cubic feet, above the five-year average of 3.297 trillion cubic feet.