Original post:
The futures got hit and are now coming back, $3.237 last, down a penny after trading as low as $3.129.
Our target for the last two months has been $3.24 and now that we're here we may have found a bottom.
More to come.
From the EIA:
for week ending August 2, 2013. | Released: August 8, 2013 at 10:30 a.m. | Next Release: August 15, 2013
| Working gas in underground storage, lower 48 states Summary text CSV JSN | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Historical Comparisons | |||||||||||||||
| Stocks billion cubic feet (Bcf) |
Year ago (08/02/12) |
5-Year average (2008-2012) |
|||||||||||||
| Region | 08/02/13 | 07/26/13 | change | (Bcf) | % change | (Bcf) | % change | ||||||||
| East | 1,408 | 1,350 | 58 | 1,631 | -13.7 | 1,513 | -6.9 | ||||||||
| West | 484 | 461 | 23 | 498 | -2.8 | 435 | 11.3 | ||||||||
| Producing | 1,049 | 1,034 | 15 | 1,109 | -5.4 | 973 | 7.8 | ||||||||
| Salt | 265 | 267 | -2 | 227 | 16.7 | 162 | 63.6 | ||||||||
| Nonsalt | 784 | 768 | 16 | 881 | -11.0 | 812 | -3.4 | ||||||||
| Total | 2,941 | 2,845 | 96 | 3,238 | -9.2 | 2,921 | 0.7 | ||||||||
Reclassifications from base gas to working gas resulted in increasing working gas stocks approximately 14 Bcf for the week ending August 2, 2013, in the West Region. These reclassifications had the effect of increasing the implied net change from 9 Bcf to 23 Bcf in the West region, and from 82 Bcf to 96 Bcf in the Lower 48 states for the week ending August 2, 2013.Summary
Working gas in storage was 2,941 Bcf as of Friday, August 2, 2013, according to EIA estimates. This represents a net increase of 96 Bcf from the previous week. Stocks were 297 Bcf less than last year at this time and 20 Bcf above the 5-year average of 2,921 Bcf. In the East Region, stocks were 105 Bcf below the 5-year average following net injections of 58 Bcf. Stocks in the Producing Region were 76 Bcf above the 5-year average of 973 Bcf after a net injection of 15 Bcf. Stocks in the West Region were 49 Bcf above the 5-year average after a net addition of 23 Bcf. At 2,941 Bcf, total working gas is within the 5-year historical range....
