US natural gas inventories fall less than expected

US natural gas inventories declined during the week ended Dec. 26, but remained above the five-year average.

Data by the US Energy Information Administration (EIA), released on Dec. 31, showed that natural gas stocks fell by 38 billion cubic feet (bcf), compared with market expectations for a decline of 51 bcf.

Current inventory levels stand at 3.317 trillion cubic feet, down 1.6% from the same period last year but 1.7% above the five-year average.