Ahead Of The Bell: Rise In Gas Reserves Expected

NEW YORK (AP) — The Energy Department on Thursday is expected to report a build of 29 billion to 33 billion cubic feet of natural gas storage inventories for the week ended Oct. 30, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

The Energy Information Administration — the statistical agency of the Department of Energy — releases its weekly report at 10:30 a.m. EST.

A reading above or below estimates can influence market trading.

On Thursday before the markets opened, natural gas fell 9 cents to settle at $4.716 per 1,000 cubic feet.

Last Thursday, the EIA said for the week ended Oct. 23 natural gas inventories held in underground storage in the lower 48 states grew by 25 billion cubic feet to about 3.78 trillion cubic feet. Analysts had expected a boost of between 27 billion and 31 billion cubic feet.

After that report, natural gas rose by 3 cents to $5.036 per 1,000 cubic feet on the New York Mercantile Exchange.