EIA NG STORAGE REPORT
| August 11, 2011
+25 bcf
That was a bullish surprise! EIA reported a +25 bcf build for the week ended August 5. This was well below consensus estimates (Bloomberg median +35 bcf) and the year-ago build (+36 bcf) as well as below the prior 5-year average (+37 bcf). The market significantly overestimated this week’s build and, immediately following the announcement, the NYMEX front month contract jumped $0.20, hitting the $4.14/mmbtu mark. During the reference week, most of the producing region was — and still is — .....
EIA NG STORAGE REPORT
| August 04, 2011
+44 bcf
EIA reported a bearish +44 bcf natural gas inventory build for the week ended July 29. This build exceeded consensus estimates (Bloomberg median +38 bcf and Bloomberg Whisper of +38 bcf) and the year-ago build (+29 bcf) but fell below the prior 5-year average (+47 bcf). This is the second consecutive week that the market has underestimated the storage build, and, immediately following the announcement, the NYMEX front month contract fell $0.11, breaking below the $4/mmbtu mark for the first t.....
EIA NG STORAGE REPORT
| July 28, 2011
+43 bcf
EIA reported a +43 bcf natural gas inventory build for the week ended July 22. This build was slightly higher than consensus estimates (Bloomberg median +38 bcf and Bloomberg Whisper of +37 bcf) and the year-ago build (+31 bcf) but below the prior 5-year average (+49 bcf). With heat ripping through the U.S. last week, this week’s build undoubtedly makes balances appear looser compared to last year. Pipeline flow models are based on day-ahead scheduled (not actual) flows. Given electric load.....
EIA NG STORAGE REPORT
| July 21, 2011
+60 bcf
EIA reported a +60 bcf natural gas inventory build for the week ended July 15. This build was in line with consensus estimates (Bloomberg median +60 bcf and Bloomberg Whisper of +60 bcf), but above the year-ago build (+55 bcf) and below the prior 5-year average (+67 bcf). Both year-ago and week-ago comparisons are difficult to make this week due to issues in calculating the rebound from the holiday effect. However, we view this build as suggesting balances about in line with last week and just.....
EIA NG STORAGE REPORT
| July 14, 2011
+84 bcf
EIA reported a slightly bearish +84 bcf natural gas inventory build for the week ended July 8. This build came in above consensus estimates (Bloomberg median +79 bcf and Bloomberg Whisper of +80 bcf) and the year-ago build (+78 bcf) but below the prior 5-year average (+88 bcf). Following EIA’s higher-than-expected storage change this morning, NYMEX prices dropped about 10 cents (but have recovered almost completely since then). Weather adjusted, this build makes balances appear looser compare.....
EIA NG STORAGE REPORT
| July 07, 2011
+95 bcf
EIA reported a bearish +95 bcf natural gas inventory build for the week ended July 1. This build came in well above consensus estimates (Bloomberg median +83 bcf and Bloomberg Whisper of +84 bcf) and above both the prior 5-year average (+80 bcf) and year-ago builds (+76 bcf). Following EIA’s higher-than-expected storage change this morning, NYMEX prices fell another 18 cents (but have recovered somewhat since then). Even when taking into account weather, nuclear outages, and an early holiday .....
EIA NG STORAGE REPORT
| June 30, 2011
+78 bcf
EIA reported a +78 bcf natural gas inventory build for the week ended June 24. This build came in below consensus estimates (Bloomberg median +80 bcf and Bloomberg Whisper of +81 bcf) but was still above both the prior 5-year average (+77 bcf) and year-ago builds (+63 bcf). NYMEX prices rose about 4% following the smaller-than-expected build. But weather adjusted, this week’s build actually indicates balances slightly looser compared to the same week last year, as well as, compared to prior.....
EIA NG STORAGE REPORT
| June 23, 2011
+98 bcf
EIA reported a +98 bcf natural gas inventory build for the week ended June 17. This build exceeded consensus estimates (Bloomberg median +90 bcf and Bloomberg Whisper of +92 bcf) rising above both the prior 5-year average (+86 bcf) and year-ago builds (+81 bcf). Weather adjusted, this week’s build indicates balances slightly looser on both year-ago and week-ago bases. With total U.S. inventories now at 2.35 tcf, in order to close the year-ago deficit by the end of October, an average +14 bcf (2.....
EIA NG STORAGE REPORT
| June 16, 2011
+69 bcf
EIA reported an +69 bcf natural gas inventory build for the week ended June 10. This build was in line with consensus estimates (Bloomberg median +69 bcf and Bloomberg Whisper of +68 bcf) but fell below both the prior 5-year average (+87 bcf) and year-ago builds (+89 bcf). This week’s build indicates balances slightly tighter than both year-ago and week-ago balances. However, two key factors are contributing to balances appearing tighter this week, namely, a rebound from the holiday effect an.....
EIA NG STORAGE REPORT
| June 09, 2011
+80 bcf
EIA reported an +80 bcf natural gas inventory build for the week ended June 3. This build was slightly above consensus estimates (Bloomberg median +78 bcf and Bloomberg Whisper of +76 bcf) but fell below both the prior 5-year average (+96 bcf) and year-ago builds (+98 bcf). This build indicates balances mostly in line with the same calendar week last year. And while the build suggests looser balances week-on-week, this is likely due to slightly higher supply, an underestimation of cooling dema.....