Unexpected increase in storage levels impacts prices
- U.S. natural-gas supplies in storage rose by 97 billion cubic feet
- Analysts expected an increase of 83 billion cubic feet
- Total working gas in storage is above the five-year average
Factuality Level: 8
Justification: The article provides factual information about the U.S. natural-gas supplies in storage, including the increase in supplies, the analysts’ forecast, and the total working gas in storage. It also includes the current price of natural gas. There are no digressions, misleading information, sensationalism, redundancy, or opinion masquerading as fact. The article is concise and provides accurate and objective information.
Noise Level: 7
Justification: The article provides information on U.S. natural gas supplies and storage levels, as well as the price of natural gas. However, it lacks analysis, evidence, or actionable insights. It stays on topic but does not provide any new knowledge or hold powerful people accountable. Overall, it contains mostly factual information but lacks depth and intellectual rigor.
Financial Relevance: Yes
Financial Markets Impacted: Natural gas markets
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to the financial topic of natural gas supplies and prices, specifically reporting on the increase in U.S. natural gas supplies in storage. There is no mention of any extreme event or its impact.
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The U.S. Energy Information Administration reported that U.S. natural-gas supplies in storage rose by 97 billion cubic feet, surpassing analysts’ expectations of an increase of 83 billion cubic feet. This rise brings the total working gas in storage to 3.626 trillion cubic feet, which is 175 billion cubic feet above the five-year average. As a result, natural-gas futures turned lower, with prices on the New York Mercantile Exchange dropping by 2% to $2.995 per million British thermal units.
