EIA NG STORAGE REPORT
| January 14, 2010
-266 bcf
EIA NG STORAGE REPORT The EIA reported a -266 bcf draw, coming in between consensus estimates on Bloomberg (-260 bcf median) and pipeline models that hovered in the low-to-mid -270s. In all, this week’s report is slightly bearish, particularly when considered in conjunction with the revision of last week’s report, which increased the Christmas/New Year draw by 5 bcf to 158 bcf. Some market participants had been looking for the draw to break the all-time record of -274 bcf (Jan 25, ’08) o.....
EIA NG STORAGE REPORT
| January 07, 2010
-153 bcf
EIA NG STORAGE REPORT The EIA reported a -153 bcf storage withdrawal for the week ending Jan 1, in line with the Bloomberg median expectation of a -153 bcf draw, but above many pipeline models that were anticipating a withdrawal in the high 130s to low 140s. Though the number came in above some expectations, this is a hard week to assess apparent fundamentals because the reference week straddled both the Christmas holiday weekend and New Years Day. Total US: -153 bcf (Bloomberg median .....
EIA NG STORAGE REPORT
| December 31, 2009
-124 bcf (bearish)
EIA NG STORAGE REPORT The EIA reported a bearish -124 bcf inventory draw for the week ending December 25. Just as quickly as fundamentals appeared to tighten earlier this month, balances have loosened considerably to exit 2009. The EIA report came in well below market consensus (Bloomberg median -145 bcf) and below many pipeline models in the high 130s and low 140s. Total US: -124 bcf (Bloomberg survey median -145 bcf) East: -90 bcf West: -11 bcf Producing: -23 bcf Statistical s.....
EIA NG STORAGE REPORT
| December 24, 2009
+166 bcf
EIA NG STORAGE REPORT The EIA reported a -166 bcf storage draw for the week ending December 18. The withdrawal came in shy of consensus expectations (Bloomberg median expectation of -172) and well short of many pipeline-based models that suggested draws in the high 170s or 180s. Though the report suggests apparent fundamentals significantly looser than those suggested by last week’s reported -207 bcf report, this week’s report suggests balances similar to those indicated by the -64 bcf r.....
EIA NG STORAGE REPORT
| December 17, 2009
+207 bullish
EIA NG STORAGE REPORT The EIA reported a bullish 207 bcf withdrawal for the week ending Dec 11, the largest withdrawal since Jan 2008. The withdrawal was the second consecutive bullish surprise on the heels of last week’s 64 bcf withdrawal. This week’s report came in well above consensus expectations in the 170s and pipeline models that suggested a draw in the 180s. Once again, the Producing Region was the big surprise, drawing a huge 75 bcf, a regional draw that has been exceeded only t.....
EIA NG STORAGE REPORT
| December 10, 2009
-64 bcf (bullish)
EIA NG STORAGE REPORT The EIA reported a bullish -64 bcf storage draw for the week ending December 4, well above market expectations centering on a build in the low-to-mid 40s and even above the range of forecasts in the Bloomberg survey (from -29 to -60 bcf). Pipeline models also called for a build in that range, but the Producing Region surprised with a 24 bcf draw. Two months ago, we argued that the first few storage withdrawals would be likely to be surprisingly large, and this one i.....
EIA NG STORAGE REPORT
| December 03, 2009
+2 bcf
EIA NG STORAGE REPORT The EIA reported a second consecutive +2 bcf storage build for the week ending November 27. Though HDD climbed to 121 on the week from 108 last week (still far below normal), the Thanksgiving holiday cut into natural gas demand to allow for a small net injection on the week. Next week’s report is likely to indicate a net withdrawal, so US inventories have topped out at 3.837 well into November. An incredibly warm November has delayed the start of withdrawal season.....
EIA NG STORAGE REPORT
| November 25, 2009
+2 bcf
EIA NG STORAGE REPORT The EIA reported that US natural gas inventories ticked up 2 bcf last week to 3.835 tcf. In all, a small draw in the East Region was offset by small builds in the Producing region and West. The build was slightly below the Bloomberg median expectation of +5 bcf and on the low end of estimates that ranged from -2 to +16. The build was in stark contrast to last year’s 55 bcf draw and the five-year average 21 bcf draw, but clearly aided by significantly warmer weather .....
EIA NG STORAGE REPORT
| November 19, 2009
+20 bcf
EIA NG STORAGE REPORT The EIA reported a +20 bcf inventory build for the week ending November 13, aided by unseasonably warm weather across the country. The build was in line with consensus expectations (Bloomberg median expectation +19 bcf). Though the weather warmed slightly vs. the prior week, Hurricane Ida prompted a mild disruption in the Gulf of Mexico, leading to a smaller net injection week on week. This week’s report suggests fundamentals consistent with last week’s surprisingly.....
EIA NG STORAGE REPORT
| November 13, 2009
+25 bcf
EIA NG STORAGE REPORT The EIA reported a bearish +25 bcf inventory build for the week ending November 6, emphatically shoving total US inventories above 3.8 tcf for the first time. Though the build came in well above the Bloomberg median expectation of +16 bcf, most market observers seemed to be expecting a build in the low 20s anyway so this report is not entirely a surprise and was likely already priced into the market. That being said, the highest expectation in the Bloomberg survey w.....