You've probably noticed we've not been posting much on natural gas and there's a reason why--
I haven't a clue.
That will change but on this Thursday in March no blah-blah without insight.
A double top in the hourly chart would be nice but you can't go calling such things an hour after your pattern recognition software starts whistling.
Here's the recent action via FinViz:
And here's the EIA:
Weekly Natural Gas Storage Report
for week ending March 1, 2013. | Released: March 7, 2013 at 10:30 a.m. | Next Release: March 14, 2013| Working gas in underground storage, lower 48 states Summary text CSV JSN | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Historical Comparisons | |||||||||||||||
| Stocks billion cubic feet (Bcf) |
Year ago (03/01/12) |
5-Year average (2008-2012) |
|||||||||||||
| Region | 03/01/13 | 02/22/13 | change | (Bcf) | % change | (Bcf) | % change | ||||||||
| East | 922 | 999 | -77 | 1,123 | -17.9 | 849 | 8.6 | ||||||||
| West | 344 | 355 | -11 | 354 | -2.8 | 271 | 26.9 | ||||||||
| Producing | 817 | 875 | -58 | 968 | -15.6 | 694 | 17.7 | ||||||||
| Salt | 190 | 208 | -18 | 216 | -12.0 | 106 | 79.2 | ||||||||
| Nonsalt | 627 | 667 | -40 | 752 | -16.6 | 588 | 6.6 | ||||||||
| Total | 2,083 | 2,229 | -146 | 2,444 | -14.8 | 1,814 | 14.8 | ||||||||
Summary
Working gas in storage was 2,083 Bcf as of Friday, March 1, 2013, according to EIA estimates. This represents a net decline of 146 Bcf from the previous week. Stocks were 361 Bcf less than last year at this time and 269 Bcf above the 5-year average of 1,814 Bcf. In the East Region, stocks were 73 Bcf above the 5-year average following net withdrawals of 77 Bcf. Stocks in the Producing Region were 123 Bcf above the 5-year average of 694 Bcf after a net withdrawal of 58 Bcf. Stocks in the West Region were 73 Bcf above the 5-year average after a net drawdown of 11 Bcf. At 2,083 Bcf, total working gas is within the 5-year historical range...
That pull was considerably bigger than most folks were talking but a word to the wise, snow in Boston counts for a lot less than - 20ºF in NYC:
From Floating Path (click to enlarge)
HT: I know Ritholtz had a copy, not sure if it was the original
