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US Natural Gas Supplies Rose in the Week Ending November 9

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Nov. 11 2016, Published 9:27 a.m. ET

Weekly US natural gas supplies 

Market data provider PointLogic reported that US natural gas supplies rose 0.1% to 77.1 Bcf (billion cubic feet) per day from November 3–9, 2016. US natural gas supplies fell 1.9% for the same period in 2015. The fall in natural gas supplies is bullish for natural gas prices.

Higher natural gas prices have a positive impact on natural gas producers’ earnings such as WPX Energy (WPX), Newfield Exploration (NFX), and Memorial Resources (MRD).

Natural gas imports from Canada fell 10% to 5.2 Bcf per day from November 3–9, 2016. Imports from Canada were 5.5 Bcf per day during the same period in 2015. The fall in imports from Canada and dry natural gas production contributed to the overall fall in US natural gas supplies during the period. 

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Impact of natural gas supplies 

Natural gas supplies influence US natural gas inventories. For more on natural gas inventories, read Part 4 of this series. Moves in supplies and inventories can drive natural gas prices. Higher natural gas prices can have a positive impact on oil and gas producers’ earnings such as Newfield Exploration (NFX), WPX Energy (WPX), and Memorial Resources (MRD).

Volatility in crude oil and natural gas prices can impact funds such as the United States Natural Gas ETF (UNG), the ProShares Ultra Bloomberg Crude Oil ETF (UCO), the PowerShares DWA Energy Momentum ETF (PXI), the Direxion Daily Energy Bear 3x ETF (ERY), the SPDR S&P Oil & Gas Exploration & Production ETF (XOP), the VelocityShares 3x Inverse Natural Gas ETN (DGAZ), and the First Trust ISE-Revere Natural Gas ETF (FCG).

Read the next part for updates on monthly natural gas production and forecasts.

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