Thursday, June 14, 2012

EIA Natural Gas Storage Report: UP 67 Bcf , Futures Up 8%

The front futures are up 17.3 cents at 2.358.
Platt's poll of analysts had them looking for 71-75 Bcf.
From the EIA:
Released: June 14, 2012 at 10:30 a.m. (eastern time) for the Week Ending June 8, 2012.
Next Release: June 21, 2012
Working Gas in Underground Storage, Lower 48
Region Stocks in billion cubic feet (Bcf) Historical Comparisons
06/08/12 06/01/12 Change Year Ago (06/08/11) 5-Year (2007-2011) Average
Stocks (Bcf) % Change Stocks (Bcf) % Change

Working gas in storage was 2,944 Bcf as of Friday, June 8, 2012, according to EIA estimates. This represents a net increase of 67 Bcf from the previous week. Stocks were 708 Bcf higher than last year at this time and 666 Bcf above the 5-year average of 2,278 Bcf. In the East Region, stocks were 334 Bcf above the 5-year average following net injections of 43 Bcf. Stocks in the Producing Region were 242 Bcf above the 5-year average of 860 Bcf after a net injection of 11 Bcf. Stocks in the West Region were 90 Bcf above the 5-year average after a net addition of 13 Bcf. At 2,944 Bcf, total working gas is above the 5-year historical range....MORE