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 .....
EIA NG STORAGE REPORT
| May 06, 2010
+83
EIA NG STORAGE REPORT The EIA reported a second consecutive bearish +83 bcf net injection for the week ending Apr 30, which should keep pressure on prices by confirming last week’s report. The weather has been remarkably constant (and temperate) during the past three weeks, leading to a dearth of weather-related energy demand for heating or cooling. If there is any glimmer of hope for those who see upside risk to prices (ourselves included), it likely resides in the power sector but hing.....
EIA NG STORAGE REPORT
| April 29, 2010
+83 bcf
EIA NG STORAGE REPORT The EIA reported a bearish +83 bcf inventory build for the week ending Apr 23, well above consensus estimates in the low 70s and above most pipeline scrape models in the high 70s. More importantly, the report suggested balances similar to the +87 bcf report of two weeks ago rather than last week’s significantly tighter +73 bcf. In fact, temperatures should have indicated slightly higher demand w-o-w, with 4 more HDD this week, yet the net injection actually increa.....
EIA NG STORAGE REPORT
| April 22, 2010
+73 bcf
EIA NG STORAGE REPORT The EIA reported a +73 bcf net injection for the week ending Apr 16, coming in lower than consensus expectations in the high 70s and pipeline scrapes that indicated an injection in the low 80s. More than anything, though, the report should cast some doubt on last week’s bearish +87 bcf build and arrest the downward slide in prices that had taken place since that report. Total US: +73 bcf East: +34 bcf West: +8 bcf Producing: +31 bcf Statistical summary attach.....
EIA NG STORAGE REPORT
| April 15, 2010
+87 bcf
EIA NG STORAGE REPORT The EIA reported a +87 bcf storage build for the week ending Apr 9, higher than consensus expectations that hovered in the low 80s. The build came in well above last year’s +21 bcf (5yr avg also +21 bcf), but largely due to weather. With weather more typical of early May, it is no surprise to see a storage injection more typical of that time of year. Total US: +87 bcf (Bloomberg median estimate +81 bcf) East: +45 bcf West: +4 bcf Producing: +38 bcf Statistica.....
EIA NG STORAGE REPORT
| April 08, 2010
+31 bcf
EIA NG STORAGE REPORT The EIA reported a +31 bcf storage injection, slightly larger than market consensus (+28 bcf Bloomberg survey median). Over the past three weeks, injections have outpaced year-ago levels by 1.5 bcf/d, but more temperate weather and high gas burn in baseload power generation a year ago -- not a structurally looser market -- are the likely culprits. Total US: +31 bcf (Bloomberg survey median +28 bcf) East: -3 bcf West: +3 bcf Producing: +31 bcf Statistical summ.....
EIA NG STORAGE REPORT
| April 01, 2010
+12 (bullish)
EIA NG STORAGE REPORT The EIA reported a +12 bcf inventory build for the week ending Mar 26, below consensus estimates (Bloomberg survey median +19 bcf) and well below some pipeline scrape models suggesting draws in the mid-20s. Though the build is essentially in line with last week’s +11 bcf net injection, the market had continued to grind lower over the week, clearly been primed by pipeline scrapes indicating a larger build. As of the time of writing, the May contract had gone from dow.....