Thursday, April 19, 2012

EIA: Natural Gas in Storage Rises 25 BCF, Futures Trade Down

The near futures are down 1.33% at $1.925. We are still looking for $1.80 end-of-May/early-June.
From the Energy Information Administration:
Working Gas in Underground Storage, Lower 48
Region Stocks in billion cubic feet (Bcf) Historical Comparisons
04/13/12 04/06/12 Change Year Ago (04/13/11) 5-Year (2007-2011) Average
Stocks (Bcf) % Change Stocks (Bcf) % Change

Working gas in storage was 2,512 Bcf as of Friday, April 13, 2012, according to EIA estimates. This represents a net increase of 25 Bcf from the previous week. Stocks were 871 Bcf higher than last year at this time and 919 Bcf above the 5-year average of 1,593 Bcf. In the East Region, stocks were 432 Bcf above the 5-year average following net injections of 13 Bcf. Stocks in the Producing Region were 376 Bcf above the 5-year average of 673 Bcf after a net injection of 7 Bcf. Stocks in the West Region were 111 Bcf above the 5-year average after a net addition of 5 Bcf. At 2,512 Bcf, total working gas is above the 5-year historical range....MORE