Thursday, June 19, 2014

EIA Weekly Natural Gas Storage Report: Futures Go All Drama Queen Over Nothing

The number was 113.
We were seeing estimates as low as 105 to Platts' 107-111 Bcf i.e. who knows anymore?
That compares with 92 billion cubic feet in the same week a year earlier and the five-year average  for the week of 87 Bcf.

From the Energy Information Administration:

for week ending June 13, 2014   |   Released: June 19, 2014 at 10:30 a.m.   |   Next Release: June 26, 2014

Working gas in underground storage, lower 48 states Summary text CSV JSN
Historical Comparisons
Stocks
billion cubic feet (Bcf)
Year ago
(06/13/13)
5-Year average
(2009-2013)
Region 06/13/14 06/06/14 net change implied flow (Bcf) % change (Bcf) % change
East 790 720 70 70 1,076 -26.6 1,187 -33.4
West 298 282 16 16 418 -28.7 402 -25.9
Producing 631 604 27 27 930 -32.2 981 -35.7
   Salt 177 172 5 5 261 -32.2 207 -14.5
   Nonsalt 455 433 22 22 670 -32.1 773 -41.1
Total 1,719 1,606 113 113 2,425 -29.1 2,570 -33.1

...MORE

From FinViz, front futures $4.6360, down 2.3 cents:

And finally, from NOAA's Climate Prediction Center, summer's coming which means builds will decrease:
http://www.cpc.ncep.noaa.gov/products/predictions/814day/814temp.new.gif