EIA NG STORAGE REPORT
| July 15, 2010
+78 bcf (bullish)
EIA NG STORAGE REPORT The EIA reported a bullish +78 bcf natural gas inventory build for the week ending July 9. The build came in just below the Bloomberg median expectation of +80 bcf, but the market was obviously geared toward a larger build. This inventory report should more than offset last week’s bearish surprise considering the impact of the July 4 holiday on demand. Total US: +78 bcf (+80 bcf bloomberg median) East: +43 bcf West: +11 bcf Producing: +24 bcf Statistical summ.....
EIA NG STORAGE REPORT
| July 08, 2010
+78 bcf (bearish)
EIA NG STORAGE REPORT The EIA reported a bearish +78 bcf natural gas inventory build for the week ending July 2. The build came in well above consensus estimates (Bloomberg median +70 bcf) and even above the year-ago build (+74 bcf) on similar weather. The most likely culprit lies in the power sector, where demand came out surprisingly low last week. Total US: +78 bcf (+70 bcf Bloomberg median) East: +48 bcf West: +11 bcf Producing: +19 bcf Statistical summary attached. Total US.....
EIA NG STORAGE REPORT
| July 01, 2010
+60 bcf
EIA NG STORAGE REPORT The EIA reported a slightly bullish +60 bcf natural gas inventory build for the week ending June 25. But the number could struggle to support prices in the face of some bleak economic data from earlier today, especially with cash prices likely to drop ahead of a holiday weekend. The build came in below market consensus (Bloomberg survey median +65 bcf), the year-ago +73 bcf build, and the five-year average +82 bcf build. The net injection was dragged down by very ho.....
EIA NG STORAGE REPORT
| June 24, 2010
+81 bcf
EIA NG STORAGE REPORT The EIA reported a natural gas inventory build of +81 bcf, in line with market expectations and smaller than last year’s +97 bcf build due to much warmer weather this year. The week’s injection dragged inventories into a slight yoy deficit (-14 bcf) for the first time since the beginning of April. At 2.62 tcf, however, inventories remain incredibly high for this time of year (+309 bcf vs. the prior 5yr avg, which includes last year’s record level). Heading into the .....
EIA NG STORAGE REPORT
| June 17, 2010
+87 bcf
EIA NG STORAGE REPORT The EIA reported a +87 bcf natural gas inventory build for the week ending June 11. The build was essentially in line with the +84 bcf 5yr avg but well below last year’s +113 build, due primarily to very hot weather across the US during the reference week. We view this report as neutral to slightly bearish. The build came in toward the lower end of expectations (Bloomberg median +90 bcf) but above some pipeline-based models. In the end, we expect this week’s report .....
EIA NG STORAGE REPORT
| June 10, 2010
+99 bcf
EIA NG STORAGE REPORT The EIA reported a net inventory build of +99 bcf for the week ending June 4, bringing total US storage to near 2.46 tcf. The build came in between last year’s +109 bcf injection and the +95 bcf 5yr average, but it’s hard to read much into this week’s report because of the Memorial Day holiday effect on demand. Nonetheless, the early onset of hot weather has clearly boosted power demand, which has likely conspired with coal-to-gas switching to quickly erode the yoy .....
EIA NG STORAGE REPORT
| June 03, 2010
June 03, 2010
EIA NG STORAGE REPORT Attached is a summary of today’s EIA natural gas storage report. There will be no commentary today.
EIA NG STORAGE REPORT
| May 27, 2010
+104 bcf
EIA NG STORAGE REPORT The EIA reported a +104 bcf inventory build for the week ending May 21, just below the +106 bcf build last year. We view this as the single most bearish inventory report so far this spring. Although on average, the reference week’s weather was quite similar to that of two weeks prior, the storage injection exceeded that week’s by 10 bcf. This week’s report is particularly bearish in that it suggests the market is storing gas at very nearly the same rate as it did du.....
EIA NG STORAGE REPORT
| May 20, 2010
+76 bcf
EIA NG STORAGE REPORT The EIA reported a +76 bcf net injection for the week ending May 14, in line with market consensus focusing on a build in the mid to high 70s. The year-on-year storage surplus narrowed by 24 bcf, but at 2.165 tcf, total inventories remain at an all-time record for mid-May. Some observers are likely to interpret this number as mildly bearish by comparing this week to late April and to last year. But we suspect that conservation played a large role in this week’s numb.....
EIA NG STORAGE REPORT
| May 13, 2010
+94 bcf (bullish)
EIA NG STORAGE REPORT The EIA reported last week’s net injection of +94 bcf, lower than consensus expectations that hovered around +100 bcf. Just as weak demand from the power sector was the likely culprit for large injections over the past two weeks, gas burn in the power sector seems to have responded impressively to a jump in power demand. We have been maintaining for several weeks that the large injections through February were driven by temperatures rather than a structurally loose .....