Thursday, May 31, 2012

EIA: Natural Gas Into Storage UP 71 Bcf, Slightly Above Estimates

The new front futures have reversed their down-move and are currently up 2.9 cents at $2.447.
Remember, the last expiration rolled up the contango ladder and didn't look back, running from the 2.10 area to 2.75. We don't look for that to happen this go-round but there is some upward pressure from the roll.
From the Energy Information Administration:

Released: May 31, 2012 at 10:30 a.m. (eastern time) for the Week Ending May 25, 2012.
Next Release: June 7, 2012 

Working Gas in Underground Storage, Lower 48
Region Stocks in billion cubic feet (Bcf) Historical Comparisons
05/25/12 05/18/12 Change Year Ago (05/25/11) 5-Year (2007-2011) Average
Stocks (Bcf) % Change Stocks (Bcf) % Change