Thursday, June 7, 2012

Natural Gas Futures Spanked As Inventories Rise

The front futures are down 3.47% at $2.337. Most of the estimates were for injections in the 55 Bcf range.

Released: June 7, 2012 at 10:30 a.m. (eastern time) for the Week Ending June 1, 2012.
Next Release: June 14, 2012

Working Gas in Underground Storage, Lower 48
Region Stocks in billion cubic feet (Bcf) Historical Comparisons
06/01/12 05/25/12 Change Year Ago (06/01/11) 5-Year (2007-2011) Average
Stocks (Bcf) % Change Stocks (Bcf) % Change

Working gas in storage was 2,877 Bcf as of Friday, June 1, 2012, according to EIA estimates. This represents a net increase of 62 Bcf from the previous week. Stocks were 713 Bcf higher than last year at this time and 687 Bcf above the 5-year average of 2,190 Bcf. In the East Region, stocks were 347 Bcf above the 5-year average following net injections of 38 Bcf. Stocks in the Producing Region were 249 Bcf above the 5-year average of 842 Bcf after a net injection of 11 Bcf. Stocks in the West Region were 91 Bcf above the 5-year average after a net addition of 13 Bcf. At 2,877 Bcf, total working gas is above the 5-year historical range....MORE

Keep Calm and Carrie Fisher.