Economics
America's Gas Supplies Suddenly Gained 7 Billion Cubic Feet
- U.S. agency revises estimate to reflect change in reporting
- Revision puts U.S. gas supply gain above analysts' forecast
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On Friday, a U.S. government report showed America’s natural gas stockpiles had swelled by 49 billion cubic feet to reach a record. It was in line with what analysts had forecast. Except for one thing.
On Monday, the Energy Information Administration revised the figures to reflect an even bigger gain of 54 billion cubic feet to a record of 3.985 trillion. That’s 7 billion more than the total reported last week. The agency said it was the result of a change in the way it reports inventory data.