CNBC's Epperson: Traders Await Natural Gas Inventories
Energy traders await numbers for natural storage inventory this morning. CNBC's Sharon Epperson had the story on "Squawk Box."
Reuters predicts a draw of 15 billion cubic feet. The Dow is guessing 12 bcf. The five-year average is 65 bcf. Current storage levels are at 3.417 trillion cubic feet, so the numbers might not make a big dent in supply regardless. It is a bigger than expected draw, though, so traders are hoping to see a boost in price.
Both natural gas and crude oil are down – despite cold weather this week. It’s actually forecasts for a warm spell next week that are weighing on both commodities. This morning natural gas is at $7.7750, up .023 cents. Oil is down a nickel to $62.14.