First up, the pre-report expectations from FX Empire:
....The EIA report for the week-ending November 8, due to be released at 15:30 GMT, could show the season’s first withdrawal or an injection in the single digits, according to estimates. Natural Gas Intelligence (NGI) is reporting that a survey of responses as of Wednesday showed expectations clustering around a range between minus 9 Bcf and plus 9 Bcf.From the EIA:
Bloomberg is predicting a 2 Bcf withdrawal, while a Wall Street Journal survey pointed to a 1 Bcf withdrawal. According to a Reuters survey, the EIA will report no net change. The ICE Intercontinental Exchange EIA Financial Weekly Index futures settled Tuesday at a withdrawal of 3 Bcf. NGI’s model predicted a 4 Bcf injection....MORE
Weekly Natural Gas Storage Report
for week ending November 8, 2019 | Released: November 14, 2019 at 10:30 a.m.
| Working gas in underground storage, Lower 48 states Summary text CSV JSN | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Historical Comparisons | |||||||||||||||||||||||||
| Stocks billion cubic feet (Bcf) |
Year ago (11/08/18) |
5-year average (2014-18) |
|||||||||||||||||||||||
| Region | 11/08/19 | 11/01/19 | net change | implied flow | Bcf | % change | Bcf | % change | |||||||||||||||||
| East | 932 | 932 | 0 | 0 | 834 | 11.8 | 904 | 3.1 | |||||||||||||||||
| Midwest | 1,106 | 1,109 | -3 | -3 | 989 | 11.8 | 1,085 | 1.9 | |||||||||||||||||
| Mountain | 207 | 207 | 0 | 0 | 181 | 14.4 | 213 | -2.8 | |||||||||||||||||
| Pacific | 290 | 292 | -2 | -2 | 266 | 9.0 | 328 | -11.6 | |||||||||||||||||
| South Central | 1,197 | 1,189 | 8 | 8 | 970 | 23.4 | 1,200 | -0.3 | |||||||||||||||||
| Salt | 313 | 303 | 10 | 10 | 269 | 16.4 | 340 | -7.9 | |||||||||||||||||
| Nonsalt | 884 | 886 | -2 | -2 | 701 | 26.1 | 860 | 2.8 | |||||||||||||||||
| Total | 3,732 | 3,729 | 3 | 3 | 3,241 | 15.1 | 3,730 | 0.1 | |||||||||||||||||
Finally, as you've probably guessed, the effect on the market was muted, but the weather forecast (see FX Empire, above) got the bulls snorting, up 8 cents last.
However: see yesterday's "So You Want To Trade Natural Gas Do You?" for the week after forecast, step lively lads and lassies.
From the CME:
