EIA NG STORAGE REPORT
| September 08, 2011
+64 bcf
EIA reported a +64 bcf build for the week ended September 2. This was in line with consensus estimates (Bloomberg median +64 bcf, Bloomberg whisper +65 bcf) and the prior 5-year average (+64 bcf), but higher than the year-ago build (+58 bcf). Taking into account demand destruction from Hurricane Irene and other short-term factors, this build makes balances appear about in line with the prior week but still slightly looser than the same week last year. As we move into next week, reductions in d.....
EIA NG STORAGE REPORT
| September 01, 2011
+55 bcf
EIA reported a +55 bcf build for the week ended August 26. This was below consensus estimates (Bloomberg median +60 bcf, Bloomberg whisper +57 bcf) and the prior 5-year average (+60 bcf) but still above the year-ago build (+52 bcf). However, the lower-than-expected build was apparently not enough to lift NYMEX front month prices as we head toward two storage reports that could show large injections given demand destruction from Hurricane Irene, cooler temperatures, and the Labor Day holiday e.....
EIA NG STORAGE REPORT
| August 25, 2011
+73 bcf
EIA reported a +73 bcf build for the week ended August 19. This was just slightly below consensus estimates (Bloomberg median +74 bcf, Bloomberg whisper +77 bcf) but still well above the prior 5-year average (+55 bcf) and the year-ago build (+38 bcf). This build, while in line with the prior week’s build, still makes balances appear loose compared to the same week last year. At this point, closing the year-ago storage deficit by end-October is still very possible and Hurricane Irene could help.....
EIA NG STORAGE REPORT
| August 18, 2011
+50 bcf
EIA reported a +50 bcf build for the week ended August 12. This was just slightly above consensus estimates (Bloomberg median +47 bcf) and the prior 5-year average (+43 bcf) but well above the year-ago build (+28 bcf). On both year-ago and week-ago bases, this build makes balances appear looser; however, it should be noted that both last year’s build and last week’s build were bullish surprises. Even so, this week’s +50 bcf build combined with forecasts for milder weather going forward and a le.....
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 .....