Thursday, July 11, 2013

Natural Gas: EIA Reports Storage Build, Futures Drop 2%

Front futures down  0.0940 (2.53%) at $3.586
Following up on this morning's "Ahead of Today's EIA Natural Gas Storage Report the Question Is..." where energy metro reported their survey numbers:
Editors forecast this week:+78 Bcf
Average: +80.3 Bcf
Median: +81 Bcf
Range: +72 to 87 Bcf 
From the EIA:

Weekly Natural Gas Storage Report

for week ending July 5, 2013.   |   Released: July 11, 2013 at 10:30 a.m.   |   Next Release: July 18, 2013
Working gas in underground storage, lower 48 states Summary text CSV JSN


Historical Comparisons
Stocks
billion cubic feet (Bcf)

Year ago
(07/05/12)
5-Year average
(2008-2012)
Region 07/05/13 06/28/13 change
(Bcf) % change (Bcf) % change
East 1,244 1,191 53
1,529 -18.6 1,333 -6.7
West 445 443 2
482 -7.7 411 8.3
Producing 998 971 27
1,119 -10.8 965 3.4
   Salt 274 265 9
252 8.7 175 56.6
   Nonsalt 724 706 18
867 -16.5 790 -8.4
Total 2,687 2,605 82
3,130 -14.2 2,709 -0.8

Summary Working gas in storage was 2,687 Bcf as of Friday, July 5, 2013, according to EIA estimates. This represents a net increase of 82 Bcf from the previous week. Stocks were 443 Bcf less than last year at this time and 22 Bcf below the 5-year average of 2,709 Bcf. In the East Region, stocks were 89 Bcf below the 5-year average following net injections of 53 Bcf. Stocks in the Producing Region were 33 Bcf above the 5-year average of 965 Bcf after a net injection of 27 Bcf. Stocks in the West Region were 34 Bcf above the 5-year average after a net addition of 2 Bcf. At 2,687 Bcf, total working gas is within the 5-year historical range....MORE
And today's action via FinViz: