The EIA reported today a storage injection of +106 Bcf for the week ending May 11th, which was within range of estimates (range was 99 to 118 Bcf), but significantly large compared to historical averages. Last year we saw a build of 64 Bcf and the five-year average was an 87 Bcf injection. Natural gas…
Monday Musings …… We saw the Nymex prompt month climb over $.30 last week due to record setting storage withdraws, market constraints and weather models coming in colder for February. So, if you are in a market that has an inverse relationship with the Nymex, now’s the time to look at your basis market. …
The EIA reported today a net gas withdraw of -183 Bcf for the week ending January 12, 2018, which was less than the market predicted -199 Bcf. The withdraw was also lower than last years withdraw of -230 Bcf and the five-year average of -203 Bcf. Natural gas inventories stand at 2,584 Bcf compared to…
The EIA reported a net gas storage Withdraw of -359 Bcf for the week ending January 5th 2018. This was quite a bit larger than the market consensus of -333 Bcf. The withdraw is significant because it’s the largest withdraw ever recorded by the EIA, exceeding the prior record of -288 Bcf that took place…
The EIA reported a net gas storage INJECTION of 2 Bcf for the week ending December 1, 2017. This was bearish to market expectations which were centered around a 3 Bcf withdraw. A year ago, we saw a withdraw of 43 Bcf and the five-year average was a withdraw of 69 Bcf. Natural gas storage…
The EIA reported a net gas storage injection of 15 Bcf for the week ending November 3rd, right in line with the general consensus. The Nymex prompt month is trading relatively flat to the open at $3.27. Storage stands at 3,790 Bcf which is a 5.5% deficit to last year’s levels and 1.8% lower than…
The EIA reported a net gas storage injection of 64 Bcf for the week ending Oct. 20, 2017. This was close to the general consensus of 65 Bcf. The Nymex prompt month is trading down -$.035 to $2.89 MMBtu. Storage stands at 3,710 Bcf which is – 189 Bcf (-4.8%) below last year and 3,756…
The EIA reported a net gas storage injection of 30 Bcf this morning for the week ending August 25th. This was right in line with the markets expectation which was between 27-38 Bcf, with a consensus of 30 Bcf. The Nymex prompt month is trading down $.01 at $2.93/MMBtu. The 30 Bcf build was less…
The EIA reported a net gas storage injection of 53 BCF this morning with the week ending August 11th, 2017. This week’s report was above the market’s expectation which was centered around 48 BCF. Storage stands at 3,082 BCF which is 254 BCF below last year at this time and 55 BCF above the five-year…
The EIA reported a net gas storage injection of 28 BCF this morning for the week ending July 14, 2017. This week’s report was below the market’s expectation which was centered around a 32 BCF injection. It is bearish against 34 BCF injected in this same week last year and bearish against the five-year average…