EIA NG STORAGE REPORT
| August 27, 2009
+54 bcf
EIA NG STORAGE REPORT The EIA’s reported 54 bcf build for the week ending August 21 should weigh heavily on the front end of the curve. The US natural gas market needs to tighten dramatically to keep surplus gas from exceeding storage capacity, yet fundamentals are cleaning up at a leisurely pace while prices are crashing all around them. Supply and demand may as well be reading My Pet Goat to a roomful of schoolchildren. The likelihood of price-induced involuntary shut-ins continues to .....
EIA NG STORAGE REPORT
| August 20, 2009
+52 bcf
EIA NG STORAGE REPORT The EIA reported that US natural gas inventories grew by 52 bcf in the week ending August 14. The build came in a bit below expectations (Bloomberg median expectation +57 bcf) and the +56 bcf five-year average. Although most of the projections on Bloomberg hovered in the mid- to high-50s, pipeline scrapes suggested a build in the low-50s, so the report was not a complete The report does indicate that fundamentals have continued to tighten over the past four weeks. .....
EIA NG STORAGE REPORT
| August 13, 2009
+63 bcf
EIA NG STORAGE REPORT The EIA reported a build of 63 bcf for the week ending Aug 7, slightly below market expectations (Bloomberg median expectation +66 bcf). When viewed only in relation to last week’s +66 bcf build, it would appear that the market tightened considerably because there were actually five fewer HDD w-o-w, yet the injection came in 3 bcf lower. Yet when taken within a broader context, however, this report still does not suggest a significant shift. Last week’s +66 bcf bu.....
EIA NG STORAGE REPORT
| August 06, 2009
+66 bcf
EIA NG STORAGE REPORT The EIA reported that US natural gas inventories grew by 66 bcf, a larger build than expectations, which had hovered in the low-60s (Bloomberg median expectation +61 bcf). Although most analysis has been focusing on tightening balances in the US gas market, this week’s report reiterates that balances are unlikely to tighten quickly enough to avoid colliding with regional storage constraints. In this sense, the storage report is quite bearish for the front of the cur.....
EIA NG STORAGE REPORT
| July 30, 2009
+71 bcf
EIA NG STORAGE REPORT The EIA reported that total US natural gas inventories grew by 71 bcf during the week ending July 24, in line with consensus expectations of a 73 bcf build. The five-year average build for the week is 51 bcf and the year-ago build was 68 bcf, albeit with much hotter weather last year in every region except the Rockies and the West. Total US: +71 bcf (Bloomberg median expectation 73 bcf) East: +56 bcf West: -1 bcf Producing: +16 bcf Statistical summary attache.....
EIA NG STORAGE REPORT
| July 23, 2009
+66
EIA NG STORAGE REPORT The EIA reported that US natural gas inventories grew by 66 bcf last week, exactly in line with the market consensus and slightly above the 62 bcf five-year average, but well below last year’s 87 bcf build for the week. Total US inventories reached 2.95 tcf by July 17, a level never before reached prior to the third week of August. From this point until the end of injection season last year, inventories grew by 1.1 tcf despite severe Gulf of Mexico disruptions durin.....
EIA NG STORAGE REPORT
| July 16, 2009
+90 bcf
EIA NG STORAGE REPORT The EIA reported a 90 bcf build for the week ending July 10, in line with consensus expectations (Bloomberg survey median +91 bcf) but below our projection for the week. This is the first report that indicates to us significantly tighter balances than those that prevailed this spring. While this report is bullish for the front of the curve and we expect balances to continue to tighten through the remainder of injection season, we still expect key regional constraint.....
EIA NG STORAGE REPORT
| July 09, 2009
+75 bcf
EIA NG STORAGE REPORT The EIA reported a smaller-than-expected 75 bcf storage build for the week ending July 3 (Bloomberg median expectation of +85 bcf). The build also came in below last year’s 89 bcf build and the 90 bcf five-year average. The producing region squeezed another 12 bcf into storage while the west managed a very meager 3 bcf injection. Total US: 75 bcf (Bloomberg median +85 bcf) East: 60 bcf West: 3 bcf Producing: 12 bcf Statistical summary attached. Total US inv.....
EIA NG STORAGE REPORT
| July 02, 2009
+70 bcf
EIA NG STORAGE REPORT The EIA reported a 70 bcf storage build, in line with our expectations but slightly below the market consensus (Bloomberg median +75 bcf). This is the second consecutive week that the build has come in below market expectations, but our models indicate that w-o-w weather changes fully account for the smaller builds. We see no significant change in underlying fundamentals over the past several weeks, but the market may consider this report as bullish when viewed in.....
EIA NG STORAGE REPORT
| June 25, 2009
+94 bcf
EIA NG STORAGE REPORT The EIA reported a 94 bcf build, in line with our expectations but below market consensus (Bloomberg median expectation +101 bcf and 5yr avg of +84 bcf). Last year’s 85 bcf build occurred during a week with higher cooling loads (63 CDD vs. 46 this year), but beware those who argue that y-o-y balances are tightening. According to our models, this 94 bcf build suggests that very little has changed fundamentally during the past several weeks. Total US: +94 (Bloom.....