Thursday, September 10, 2020

EIA Natural Gas Storage Report

First up, the estimates going into the report via FX Empire:
...a Bloomberg survey found estimates ranging from 60 Bcf to 73 Bcf, with a median of 68 Bcf, while a Reuters poll found estimates ranging from 62 Bcf to 73 Bcf and a median of 69 Bcf. NGI estimated an injection of 71 Bcf....
From the Energy Information Administration:
...Working gas in storage was 3,525 Bcf as of Friday, September 4, 2020, according to EIA estimates. This represents a net increase of 70 Bcf from the previous week. Stocks were 528 Bcf higher than last year at this time and 409 Bcf above the five-year average of 3,116 Bcf. At 3,525 Bcf, total working gas is above the five-year historical range....
And finally the price reaction from the CME (one week, 30 minute candles):
Soon to roll off October
https://www.tradingview.com/x/a2MtTNBW/

And November:

https://www.tradingview.com/x/iZvFlag8/

More after the Weekly Update comes out (thinking LNG)